Sunak was the clear front-runner.
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Version 0 of 1. LONDON — Rishi Sunak, the former chancellor of the Exchequer, on Monday was set to become Britain’s next prime minister, after his last remaining rival dropped out of the race. The move will make Mr. Sunak the first person of color and the first person of Hindu faith to lead Britain. When the deadline for candidates to secure nomination in the race passed, Mr. Sunak, was the clear front-runner. He had the public backing of 191 Conservative lawmakers as of Monday afternoon, according to the BBC. His only remaining rival, Penny Mordaunt, dropped out on Monday afternoon, saying, “We all owe it to the country, to each other and to Rishi to unite.” The candidates had been frantically maneuvering to gather nominations from Conservative Party lawmakers for the top job at Downing Street since Liz Truss announced her resignation on Thursday after six turbulent weeks. Over that short time, Ms. Truss’s tax-cutting agenda quickly became a radical experiment in trickle-down economics, which descended into financial and political chaos. Most of her proposed policies were reversed in the days before she stood down. Here’s what to know: Britain’s next prime minister, the third this year, will face a long list of economic challenges. Annual inflation topped 10 percent last month as food prices rose at their fastest pace in more than 40 years. Wages have not kept up with rising prices, bringing about a cost-of-living crisis and labor unrest. Interest rates are set to rise even as the economy stagnates. Former Prime Minister Boris Johnson pulled out of the race on Sunday evening, ending a quixotic bid to reclaim a job that he lost three months ago amid a cascade of scandals. He said in a statement that he believed he had a path to victory, even though the BBC estimated that he had lined up the public support of only 57 Conservative lawmakers. |