UK is dealing with an economically toxic combination of recession and growing interest prices. Critics blame the financial downturn on the Conservative party and what they name its "series of miscalculations".

Rishi Sunak is the next top Minister of United Kingdom, tasked to steer the economically floundering kingdom days after his predecessor Liz Truss stepped down, conceding defeat. At age 42, he's the youngest and the primary person of coloration to preserve the submit.

Here are the top 10 points on this massive tale:

1. In his first address to the people after being named high Minister, Rishi Sunak said it became the "finest privilege of my existence...Will paintings day inside and outside to supply".

2. Congratulating Rishi Sunak, high Minister Narendra Modi tweeted, "I look forward to working intently collectively on worldwide issues, and imposing Roadmap 2030. special Diwali desires to the 'dwelling bridge' of uk Indians, as we transform our historic ties into a current partnership".

3. Rishi Sunak is the third prime Minister uk had in seven months. Liz Truss -- who pipped him to the put up within the party's internal election and succeeded Boris Johnson -- quit on October 20 after only forty-five days in workplace.

4. Mr Johnson, who entered the race again last week, slicing brief a Caribbean excursion, ended his bid for the put up the day gone by in a marvel decision. He stated he might no longer be capable of lead "a united party in parliament".

five. the alternative contender, Penny Mordaunt, did not comfy the numbers and dropped out of the race. Mr Sunak has the guide of 180-plus contributors of the parliament - a ways above the a hundred-mark required to bag the pinnacle task.

6. Liz Truss had stop the pinnacle put up after her plan for a mini-finances -- providing large unfunded tax cuts -- spooked markets. "Given the situation, I can't perform the mandate for which i was elected," she had informed the media.

7. United Kingdom is dealing with an economically toxic aggregate of recession and growing hobby rates. Critics blame the financial downturn on the Conservative party and what they call its "collection of miscalculations".

8. The pound rose briefly today as it became clear that Mr Sunak will be the next Prime Minister. "I want to fix our economy, unite our party and deliver for our country," the Indian-origin former chancellor had said earlier.

9. Rishi Sunak had criticized Liz Truss's tax-slicing agenda during the competition for management earlier this yr. He stated he would reduce taxes only after bringing inflation beneath manipulate. He had additionally outlined a plan to reduce profits tax from 20% to 16% by 2029.

10. Mr Sunak's being named to the United Kingdom pinnacle post on Diwali has elated many in India, wherein he is better recognized thru his wife. Akshata Murty is the daughter of Infosys co-founder Narayana Murthy.