Former hedge fund exec Rishi Sunak is UK’s new PM
Former hedge fund executive and multimillionaire Rishi Sunak is the United Kingdom’s first person of color to head the country.
Sunak, 42, will become the country’s youngest leader in modern times. He replaced Liz Truss who was in office for only 44 days.
On Monday Sunak told told the parliament in an address that they are facing an “existential crisis” and must “unite or die.” He said the country is faced with 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,” he said.
The former banker is expected to take on spending cuts to try to rebuild Britain’s fiscal reputation, just as the country slides into one of the toughest economic challenge in decades, hit by the surging cost of energy and food.
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