Shortly after 1400 on Monday 24 October 2022, Sir Graham Brady announced the election of Rishi Sunak as the Conservative Party's new leader. Following an audience with His Majesty the King this morning, he will become the United Kingdom's 57th Prime Minister.
Speaking from CCHQ yesterday afternoon, Rishi said:
"I'd like to pay tribute to Liz Truss for her dedicated public service to the country.
She has led with dignity and grace through a time of great change and under exceptionally difficult circumstances, both at home and abroad.
I am humbled and honoured to have the support of my parliamentary colleagues and to be elected as leader of the Conservative and Unionist Party.
It is the greatest privilege of my life, to be able to serve the party I love and give back to the country I owe so much to.
The United Kingdom is a great country, but there is no doubt we face a profound economic challenge.
We now need stability and unity and I will make it my utmost priority to bring our party and our country together.
Because that is the only way we will overcome the challenges we face and build a better, more prosperous future for our children and our grandchildren.
I pledge that I will serve you with integrity and humility. And I will work day in, day out to deliver for the British people."
Welcoming Rishi Sunak's appointment, Neil said:
"In recent weeks the country had been facing a profound economic crisis. In Rishi Sunak we have a leader and Prime Minister who has the skills and experience to tackle these challenges.
Whilst many will, rightly, focus on the fact Rishi becomes the first UK Prime Minister of Indian heritage, it is his understanding of economics and financial markets which will prove so vital in these difficult times. Rishi grasps the importance of steadying the markets, stabilising mortgages, and demonstrating sound fiscal principles.
Boris Johnson and Penny Mordaunt could have pushed for a party-wide election, however both chose to stand aside and put stability and the interests of our country before personal ambition.
Boris is a remarkable politician. He will be remembered for delivering Brexit, the vaccine roll out, and his leadership on Ukraine. Penny is a real talent and, I have no doubt, will continue to make a meaningful contribution to government in the years ahead.
As we enter a new era as a party, we must unite behind Rishi's leadership for the good of the country. Households up and down the country need the certainty provided by a stable government, economy, and markets."