Sunak has also begun reshuffling his cabinet, as UK residents feel the pinch of what is a “profound economic crisis”.
Jeremy Hunt will stay on as chancellor, a position he acquired after Kwasi Kwarteng’s disastrous mini-budget.
Suella Braverman will once again be home secretary just days after sensationally resigning from this very role.
Dominc Raab is deputy PM and justice secretary, while Michael Gove is levelling up secretary.
Grant Shapps is the new business secretary, with Sunak’s former leadership rival Penny Mordaunt staying on as leader of the House of Commons.
Mistakes have been made
Speaking outside his new home, 10 Downing Street, Sunak paid tribute to his predecessor, Liz Truss, while also acknowledging mistakes have been made.
“Our country is facing a profound economic crisis. The aftermath of COVID still lingers. Putin’s war in Ukraine has destabilised energy markets and supply chains the world over,” Sunak said.
“I will place economic stability and confidence at the heart of this government’s agenda. This will mean difficult decisions to come.
“I want to pay tribute to my predecessor Liz Truss. She was not wrong to want to improve growth in this country. It is a noble aim. And I admired her restlessness to create change.
“But some mistakes were made — not born of ill will, or bad intentions. Quite the opposite, in fact. But mistakes, nonetheless. And I have been elected as leader of my party and your prime minister, in part to fix them.”
William is an Executive News Producer at TICKER NEWS, responsible for the production and direction of news bulletins. William is also the presenter of the hourly Weather + Climate segment.
With qualifications in Journalism and Law (LLB), William previously worked at the Australian Broadcasting Corporation (ABC) before moving to TICKER NEWS. He was also an intern at the Seven Network's 'Sunrise'.
A creative-minded individual, William has a passion for broadcast journalism and reporting on global politics and international affairs.
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