He did not mince words about the “mistakes” made by his immediate predecessor, Liz Truss and said: “I have been elected as leader of my party and your Prime Minister in part to fix them.” He added: “This will mean difficult decisions to come.”

Sunak promised that he will be as caring as he was as Chancellor of the Exchequer during the Covid pandemic, saying: “I will bring that same compassion to the challenges we face today.” But he indicated the current generation of Britons have to settle the country’s debt, instead of leaving this for their children or grandchildren.

At the end of his five and a half minute speech, he waved to the assembled journalists and camera crews before entering the historic door and building.

Earlier, British monarch King Charles III granted Sunak an audience at Buckingham Palace and formally invited him to constitute a government.

Sunak is the youngest Prime Minister of Britain in 200 years. He has risen to this position after only seven years in politics. He was previously an investment banker and hedge fund manager.

He is of Indian origin by virtue of his grandparents hailing from pre-partition India, though his parents were brought up in East Africa. He himself was born in Southampton. His wife Akshata Murthy, a businesswoman, is Indian.

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