Former finance minister becomes the Prime Minister

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Rishi Sunak becomes Britain's new prime minister.

He leads the Conservative Party with a substantial parliamentary majority inherited since the 2019 general election.

"It is only right to explain why I am standing here as your new prime minister," Sunak told the crowd of journalists outside No.10 Downing Street's famous front door after formally accepting his new role from King Charles during a meeting at Buckingham Palace.