After Boris Johnson dropped out of the Conservative Party leadership race to replace Liz Truss, who resigned last week, Rishi Sunak is the favorite to become Britain’s next prime minister, glamsquad reports.
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Sunak, a 42-year-old former finance minister, could be named prime minister as soon as Monday to replace Liz Truss, making him Britain’s third prime minister in less than two months.
Sunak, who served as Chancellor under Johnson, has emerged as the frontrunner in the Tory leadership race, with the support of nearly 150 Conservative MPs.
The multimillionaire former hedge fund manager will be tasked with restoring Britain’s fiscal reputation through deep spending cuts as the country enters a recession, dragged down by rising energy, food, and mortgage rates.
He will also preside over a party that has bounced from one crisis to the next in recent months, a country that is growing increasingly angry at the behavior of its politicians.
“The United Kingdom is a wonderful country, but we are in the grip of a severe economic crisis,” Sunak said in a statement announcing his candidacy on Sunday.
First, he must defeat the last candidate in the race, Penny Mordaunt, who is attempting to secure the support of 100 lawmakers in order to appear on the ballot on Monday.
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Mordaunt, the House of Commons leader, has so far received the support of approximately 25 politicians. Sunak has received support from over 150 people.
“He’s not taking anything for granted,” said interior minister Grant Shapps, a Sunak supporter, on BBC television. “He’s been talking to coworkers all morning. And, of course, we’ll be hoping to attract a large enough crowd to put this to rest.”