In first address as British PM, Rishi Sunak vows ‘stability & unity’ against economic crisis

London, Oct 24: Indian-origin Rishi Sunak, who is set to be the next Prime Minister of United Kingdom on Monday vowed "stability and unity" against economic crisis in the country.

The former chancellor, who won Tory leadership contest on Monday, is poised to walk through the door of 10 Downing Street in London after an audience with King Charles III in Buckingham Palace, which is likely to be on Tuesday.

In his first address as Tory leader soon after the result was declared, Sunak said "Humbled and honoured to have support of my Parliamentary colleagues and to be elected as Leader of the Conservative and Unionist Party. It is the greatest privilege of my life to be able to serve the party I love & give back to the country I owe so much to."

"The UK is a great country, but there is no doubt we face a profound economic challenge," said Sunak from the Conservative Party headquarters near Parliament in London.

"We now need stability and unity and I will make it my utmost priority to bring our party and our country together; because that is the only way we will overcome the challenges we face and build a better, more prosperous future for our children and our grandchildren," he said.

"I pledge that I will serve you with integrity and humility and I will work day in day out to deliver for the British people," he said.

Sunak was runner-up in the last leadership race, securing the highest backing from MPs but losing out to Liz Truss after the vote went to Tory members.

Rishi Sunak's last rival, Penny Mordaunt, opted out of the race as she could not garner the needed support. Former PM Boris Johnson, who was expected to make a comeback, dramatically pulled out on Sunday.

"Rishi Sunak is therefore elected as leader of the Conservative party," senior backbencher Graham Brady said soon after Mordaunt left the contest.

Sunak is now set to replace Liz Truss, whose disastrous economic plans to rescue the UK from the current crisis, fell apart quickly and made her the shortest-serving premier - only 44 days in office.