Indian-origin Rishi Sunak has declared that he would compete for the position of British Prime Minister and Conservative Party leader to succeed Liz Truss, who resigned after only 44 days in power due to economic turmoil.
“The United Kingdom is a great country but we face a profound economic crisis. That’s why I am standing to be Leader of the Conservative Party and your next Prime Minister,” he said in a statement published on Sunday.
“I want to fix our economy, unite our Party and deliver for our country,” he said a day after the former finance minister had amassed enough support to stand for the contest.
Sunak was anticipated to run and is considered the leader, ahead of Penny Mordaunt, who declared her candidacy on Friday. He has already received the necessary 100 votes from Conservative MPs to be chosen to run.
The focus now shifts to Boris Johnson and if he will enter the race.
Reports suggest that Johnson may also run to become prime minister, but he has not officially declared it. He reportedly held talks late on Saturday with Sunak, according to British media, shortly after Johnson returned to London from a Caribbean holiday.
Truss became the UK’s shortest-serving prime minister after resigning on Thursday following her failed tax-cutting plans and policy U-turns sent the markets into chaos and sent the pound to its lowest level in history.