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Sunak Next PM As Mordaunt Withdraws From Leadership Contest

UK

Former Chancellor of the Exchequer Rishi Sunak will become the next leader of the Conservative party and succeed Liz Truss as prime minister following the withdrawal of Penny Mordaunt from the leadership contest.

  • Mordaunt has announced her withdrawal just seconds before the closure of the nomination process for the Conservative leadership contest.
  • This avoids a vote among the party membership. Sunak will travel to see King Charles III after Truss officially offers her resignation to the monarch and recommends that Sunak can form a governing majority in the Commons.
  • Compared to Truss, who sought to govern as a low-tax libertarian, Sunak seen as a more orthodox fiscal conservative.
  • Jeremy Hunt seen as likely to remain chancellor, increasing the prospect that he delivers the medium term fiscal plan on 31 October.
  • Focus also turns to the nature of the Cabinet Sunak puts together, whether broad based across the party or from a more narrow centrist section of the party.
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