Rishi Sunak, the first Asian origin Prime Minister of UK, promised to begin work "immediately" on addressing the "profound economic crisis" facing the country. "We will not leave the next generation with a debt to settle that we were too weak to pay ourselves," he said in his first address to the nation after a meeting with King Charles.
"Trust is earned and I will earn yours," he said, pointing out that he was elected to fix the "mistakes" made by his predecessor Liz Truss.
His government, Mr Sunak said, will deliver on the promise of stronger NHS (National Healthcare system), schools, safer streets, supporting armed forces, levelling up and create jobs. It will have "integrity, professionalism and accountability at every level". "I will unite our country not with words but with action," he added.
During his time as Chancellor he did everything he could "to protect people and businesses" through schemes such as furlough, Mr Sunak said. "I will bring the same compassion to the challenges we face today," he said.
In a stunning turnaround in political fortune, Mr Sunak took over as Liz Truss -- who pipped him to the post in the party's internal election and succeeded Boris Johnson -- quit on October 20 after only 45 days in office.
He is the third Prime Minister UK had this year as the country struggles to overcome huge economic crisis. Critics say the Conservative Party has done little to address the decades-high inflation, surging borrowing costs and imminent recession.