Just days after Liz Truss resigned and marked the shortest tenure of any British Prime Minister, several familiar faces, including former PM Boris Johnson, threw their hats into the running. 🎩
The person who came out on top, however, is Rishi Sunak.
The former chief finance minister made a high-stakes bet two months ago, launching an attack to help end Boris Johnson’s rule, seeking to take his place. However, he ultimately lost to Liz Truss. Yet within weeks, he’s back, securing the support of 100 Conservative party members needed to meet the threshold for potential candidates. 🗳️
As a British Indian, he will become the first person of color to become British Prime Minister. And at 42, he can also add “youngest person to take the office in more than 200 years.” to his resume.
The former banker is more moderate than Truss and criticized many of her policies, including the unfunded tax cuts that sparked a selloff in global markets. As he looks to tackle the country’s economic issues, he’ll also have to rebuild the Conservative party, which has fallen into a state of disarray and is unpopular after 12 years in power.
Markets were green today as some uncertainty was removed from the situation. Who knows, maybe the third Prime Minister in as many months is the charm? 🤷