China News Service, October 25th. According to a comprehensive report, Sunak, who won the Conservative Party leadership race, will take office as British Prime Minister on the 25th local time. He will become the youngest and first Indian-born Prime Minister of modern Britain.
Faced with many challenges, the former chancellor will also be tasked with leading the deeply divided country through the recession.
Data map: Sunak, leader of the British ruling Conservative Party.
3rd Prime Minister in 7 weeks
According to reports, Sunak will go to Buckingham Palace to meet with Charles III on the 25th and accept the appointment to form a government, replacing Truss who resigned after only 6 weeks in office, becoming the third prime minister ushered in by the UK in 7 weeks.
According to British Sky News on the 24th, Sunak delivered a speech at the British Conservative Party headquarters that day.
"The UK is a great country, but there is no doubt that we face deep economic challenges," he said, adding that bringing the country together would be his "top priority".
As a former chancellor of the exchequer, Sunak was seen as the ideal candidate to carry the burden of the economy.
Sunak, a former Goldman Sachs analyst, became Chancellor of the Exchequer in Johnson's government as the Covid-19 pandemic swept the UK and drew national attention with his successful "furlough scheme".
Now, with soaring energy and food prices dragging the country into recession, Sunak is expected to roll out drastic spending cuts in an attempt to rebuild Britain's fiscal reputation.
According to the Chinese website of the British "Financial Times", Sunak now faces a daunting to-do list, including a public financial crisis, high inflation, overwhelmed public services, unstable industrial relations, soaring energy bills, and the United Kingdom. The possibility of a power outage in the new year.
Can the economy be repaired?
Sunak, a fiscal conservative, vowed to "fix the economy" in a statement on the 22nd, promising: "My government will be honest, professional and accountable at all levels."
Financial markets reacted positively to Sunak's expected prime ministership - a phenomenon dubbed a "dull bonus" in the City of London after the turmoil caused by Truss and her tax-cut "mini" budget.
As treasurer, Sunak raised taxes in an attempt to repair public finances strained by the Covid-19 pandemic.
Sunak is expected to keep Jeremy Hunt, also a fiscal conservative, as chancellor.
As Truss has previously proposed, the UK Treasury is working on a medium-term debt reduction plan, which will be tabled in Parliament on October 31.
In addition, Sunak must try to reunite a deeply divided Conservative Party, starting with the task of forming a new cabinet.