Britain's outgoing Prime Minister Liz Truss in her farewell speech said that her government had acted "urgently and decisively" to help hard-working families and provided assistance to thousands of businesses to avoid bankruptcy. Truss will submit her resignation to King Charles III, who will then appoint Sunak as PM. Rishi Sunak will be the first person of Indian origin to become British prime minister.
I wish Rishi Sunak every success said Truss in her farewell speech before signing off. Rishi Sunak becoming Britain's next prime minister will help stabilise markets after a period of turmoil, but his new team should ensure it is focused on keeping London competitive as a global financial centre, the CEO of lender HSBC said. "We're very pleased that there has been a decision taken on the UK Prime Minister position, that now allows the markets to stabilise as you can see in the way the markets reacted yesterday, that's positive," HSBC CEO Noel Quinn told Reuters, after the bank posted third quarter earnings.