Rishi Sunak is the new Conservative Party leader and the UK’s third prime minister in seven weeks, as of 25 October 2022.

The 42-year-old, who is the UK’s first British Asian PM and its youngest leader for more than 200 years, was the only person to be successfully nominated after Penny Mordaunt withdrew from the leadership contest two minutes before the deadline.

Sunak gave an address to Tory MPs, during which he ruled out calling an early general election – despite calls from opposition parties. He later made a televised statement at Tory HQ, warning that the country faced a “profound economic challenge” and where he pledged to fix the economic blunders committed by his predecessor, Liz Truss.

Tory MPs, ex-leaders and current ministers including Chancellor Jeremy Hunt have congratulated him – as have the leaders of India and Ireland, and the president of European Council. The White House says President Joe Biden is looking forward to working with Sunak.

Downing Street has confirmed that Liz Truss premiership has official ended and Sunak has been installed as Prime Minister following an audience with King Charles.