Rishi Sunak to be the next UK PM: Live Updates

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British politician Rishi Sunak was Monday elected Conservative leader and will become the next prime minister, after rival Penny Mordaunt failed to secure the necessary 100 nominations from her fellow MPs.

"Rishi Sunak is therefore elected as leader of the Conservative Party," senior backbencher Graham Brady said, as Mordaunt vowed her "full support" for the former finance minister.UK PM designate Rishi Sunak has promised that he will make ‘Stability and Unity’ his priority during his first public address as the Prime Minister designate of United Kingdom

"UK is a great country but we face a profound economic challenge. We now need stability and unity & I'll make it my utmost priority to bring our party and country together as that's the only way we'll overcome challenges &build a better future for our children & grandchildren', Sunak said. 

Rishi Sunak not to take charge today

UK PM handover to Britain's new prime minister, Rishi Sunak, will not happen on Monday, a spokesperson for Prime Minister Liz Truss said, outlining that discussions were being held on the timing and choreography of the transition.Rishi Sunak called on his warring Conservative Party to unite as the UK’s incoming prime minister bids to fix the crisis facing the economy.

Speaking less than an hour after emerging victorious in the race to succeed Liz Truss as premier, the former Chancellor of the Exchequer said his party faces an “existential threat," and needs to come together, according to Simon Hoare, a Tory lawmaker present at Sunak’s address to MPs behind closed doors on MondayBritish Prime Minister Liz Truss said on Monday Rishi Sunak had her full support after he won a leadership race to become the country's next leader.

"Congratulations @RishiSunak on being appointed as Leader of the Conservative Party and our next Prime Minister," Truss said on Twitter. "You have my full support."Penny Mordaunt withdrawal statement, in full

"Our Party is our membership. Whether we are elected representatives, activists, fundraisers or supporters. We all have a stake in who our leader is.

"These are unprecedented times. Despite the compressed timetable for the leadership contest it is clear that colleagues feel we need certainty today. They have taken this decision in good faith for the good of the country.

"Members should know that this proposition has been fairly and thoroughly tested by the agreed 1922 process.

"As a result, we have now chosen our next Prime Minister. This decision is an historic one and shows, once again, the diversity and talent of our party. Rishi has my full support.

"I am proud of the campaign we ran and grateful to all those, across all sides of our party, who gave me their backing. We all owe it to the country, to each other and to Rishi to unite and work together for the good of the nation. There is much work to be done."

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