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Sunak’s win on Monday came days after Truss’s resignation following her disastrous tax cuts plans and policy U-turns plunged the markets into chaos. The unprecedented economic crisis drew a rare intervention from the Bank of England.
Sunak was to make his first remarks at 2:30pm (13:30 GMT), according to Party official Graham Brady, whose 1922 committee of Tory MPs organised a rapid leadership election following last week’s resignation of Truss.
He has been left with the task of steering a deeply divided country through an economic downturn set to leave millions of people poorer.
Al Jazeera’s Andrew Simmons, reporting from London, said Sunak is “pretty well placed” despite the challenges ahead.
“In some ways … some of his paid work has already been done in terms of putting out the fires that Liz Truss created – because, it did cause a storm in the markets,” Simmons said.
“The whole list of tax cuts, and ideas that frankly, according to Sunak and others belongs to Disneyland, because none of it was going to be really possible without crashing the economy more,” he said. (ALJAZEERA)
