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Rishi Sunak to be sworn in as UK PM today
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Before that, Liz Truss, who resigned as PM after just 44 days in power, will hold her last Cabinet meeting before giving a departing statement outside 10 Downing Street. She will then meet King Charles at Buckingham Palace.
After Truss leaves the palace, Rishi Sunak will have a meeting with King Charles where he will be officially appointed as the new PM by the King. The first Hindu prime minister of the UK will then deliver a speech outside Number 10 at around 4 pm today. He might be accompanied by his wife Akshaya Murthy and their two daughters - Anoushka and Krishna.
When Sunak reaches the prime minister's residence, he will be made privy to security codes. By this time, he should have decided and declared the key positions of his Cabinet.
The fast track election, which saw a race between Rishi Sunak and Penny Mordaunt for the top post, was an attempt by the Conservative party to not delay the elections considering the volatile situation of the markets. The mini-budget statement is to be released on October 31.
Rishi Sunak first became an MP in 2015. He was elected from Richmond, Yorkshire. Sunak quickly rose through the Conservative party ranks and backed calls for 'Brexit'. He was one of the supporters of Boris Johnson during his 'leave EU' campaign.
In his first address soon after the result was declared on Monday, Rishi Sunak said his priority would be to bring the country together and said he was humbled and honoured to get the greatest privilege of his life to give back to the country he owes so much.