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LONDON, Oct 26 (Reuters) - Britain's new Prime Minister Rishi Sunak earned cheers from his lawmakers and plaudits from political commentators on Wednesday as he locked horns with the opposition Labour Party in parliament for the first time since becoming leader. "My record is, when times are difficult in this country I will always protect the most vulnerable," Sunak said to vociferous support from the Conservative benches in the House of Commons. Britain's Prime Minister Rishi Sunak walks outside Number 10 Downing Street, in London, Britain, October 26, 2022. Sunak's Conservatives saw their standing in opinion polls sink to multi-year lows as Truss stumbled through her six weeks as prime minister. "The only time he ran in a competitive election, he got trounced by the former prime minister who herself got beaten by a lettuce," Starmer said.

LONDON, Oct 26 (Reuters) - British Prime Minister Rishi Sunak will gather his newly appointed cabinet for the first time on Wednesday, a day after taking power with a promise to fix the mistakes of his predecessor and stabilise the economy. "(Sunak), of course, will want to take some time to work on the detail on that," Cleverly said. As Britain's third prime minister this year, Sunak faces a daunting list of problems beyond the economic crisis, including how to unite and rebuild a fractured party whose reputation has been shredded by months of scandals and rows. "The hard work begins now and together, the prime minister's new cabinet will deliver for the British people," a source in his Number 10 Downing Street office said in a statement. ($1 = 0.8718 pounds)Reporting by William James; Editing by Robert BirselOur Standards: The Thomson Reuters Trust Principles.

☆ Rishi Sunak set to become UK PM after meeting King Charles
▼ + stars: | 2022-10-25 | by ( Jenni Reid | ) www.cnbc.com time to read: +5 min

Rishi Sunak has been named as the U.K.'s new prime minister and the country's first leader of color. Jeff J Mitchell | Getty Images News | Getty ImagesLONDON — Rishi Sunak will become the U.K.'s third prime minister of the year Tuesday following a meeting with King Charles III. Sunak was elected party leader by fellow Conservative lawmakers on Monday following the resignation of Liz Truss on Thursday. watch nowThe 42-year-old will be the youngest U.K. prime minister since 1812, and the first person of color to lead the country, which U.S. President Joe Biden said Monday was "a groundbreaking milestone." Sunak's parents are of Indian descent and in the 1960s moved from East Africa to the U.K. Sunak also has the greatest personal wealth of any of his predecessors.

☆ New UK PM Rishi Sunak is a child of privilege, married into almost $1 billion in tech money, and takes over a country struggling to afford heating
▼ + stars: | 2022-10-25 | by ( Mia Jankowicz | Yoonji Han | ) www.businessinsider.com time to read: +8 min

Rishi Sunak will soon become the new prime minister of the UK. It's a union that made Sunak the first frontline UK politician to enter The Sunday Times' annual wealth listing. Sunak and his wife, Akshata Murthy, celebrating the British Asian Trust at the British Museum on February 2022. But despite his attempts to portray a down-to-earth image, the British public has had numerous reminders that Sunak has a very different experience with money than most people. His supporters, including British chancellor Jeremy Hunt, argue that Sunak's experience in finance and at the treasury make him the right man for the job.

☆ Rishi Sunak's first speech as UK prime minister
▼ + stars: | 2022-10-25 | by ( ) www.reuters.com time to read: +3 min

LONDON, Oct 25 (Reuters) - Rishi Sunak made his first speech as Britain's prime minister on Tuesday, acknowledging the mistakes of his predecessor Liz Truss while vowing to fix the economy, lead with integrity and fulfil the promises of the Conservative Party's 2019 manifesto. Below are the highlights from Sunak's speech:ON THE ECONOMY"Our country is facing a profound economic crisis. Register now for FREE unlimited access to Reuters.com Register"I will place economic stability and confidence at the heart of this government's agenda. And I have been elected as leader of my party and your prime minister, in part to fix them." ON BORIS JOHNSON"I will always be grateful to Boris Johnson for his incredible achievements as prime minister and I treasure his warmth and generosity of spirit.

"Policy stability is absolutely critical," Miles Celic, chief executive of finance lobby group TheCityUK told Reuters. Finance chiefs want Sunak to balance spending on infrastructure with easing immigration policy for skilled workers and investing in education, Celic added. Sunak confirmed on Tuesday that he was keeping Hunt as his finance minister, after he was appointed late in Truss' brief premiership to shore up confidence in Britain's finances - and tear up much of her planned tax-cutting agenda. Britain's 164 billion pound ($185 billion) financial industry was largely locked out of directly serving EU customers after Brexit. Any moves to extract more tax from banks are likely to be met with industry opposition.

LONDON, Oct 24 (Reuters) - Investors welcomed Rishi Sunak as Britain's new prime minister on Monday, but they're likely to give him little leeway to diverge from spending restraint and tax rises after his predecessor shook their faith in the Conservative party's management of the economy. Register now for FREE unlimited access to Reuters.com RegisterOutgoing Prime Minister Liz Truss's month and a half in power caused chaos in British financial markets. Yet Donovan said the mayhem of the last month means Sunak will have next to no room to make bold choices, lest he risk the market's wrath. And I don't think that the incoming prime minister has that." "The settling down of the situation in the UK means what is happening in politics is now more of an idiosyncratic thing just affecting UK markets, and in the UK too what global markets are doing will become more and more important."

☆ Boris Johnson pulls out of UK Conservative leadership race
▼ + stars: | 2022-10-23 | by ( ) www.reuters.com time to read: +1 min

"There is a very good chance that I would be successful in the election with Conservative Party members - and that I could indeed be back in Downing Street on Friday," Johnson said in a statement. "But in the course of the last days I have sadly come to the conclusion that this would simply not be the right thing to do. You can't govern effectively unless you have a united party in parliament." He will be named leader of the Conservative Party and become prime minister on Monday unless candidate Penny Mordaunt reaches the threshold of 100 backers to force a run-off vote by party members. Register now for FREE unlimited access to Reuters.com RegisterReporting by Paul SandleOur Standards: The Thomson Reuters Trust Principles.

☆ Twitter is bowing down to Larry the Cat, Downing Street's Chief Mouser, for outlasting 4 prime ministers
▼ + stars: | 2022-10-21 | by ( Cheryl Teh | ) www.businessinsider.com time to read: +2 min

Larry the cat is Downing Street's Chief Mouser, and has worked there since February 15, 2011. When Truss leaves office, Larry the Cat will have outlasted four prime ministers. Larry, the official cat at the British prime minister's 10 Downing Street residence, holds the title of Chief Mouser. "The King has asked me to become Prime Minister because this nonsense has gone on long enough," read a tweet from the account on Thursday. One Twitter user posted a photoshopped image of Larry in front of a crowd holding signs that reads: "Larry for Leader."

☆ With UK leader Liz Truss quitting, here are the top contenders to replace her
▼ + stars: | 2022-10-20 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +6 min

"Given the situation, I cannot deliver the mandate on which I was elected by the Conservative Party," she said in a brief speech Thursday afternoon. Here are the main contenders for the top job:Rishi SunakRishi Sunak, Britain's former finance minister and Truss' main opponent in this year's Conservative Party leadership race, is now seen as a favorite to replace her. Britain's former finance minister Rishi Sunak was Liz Truss's main opponent in this year's Conservative leadership race. Penny MordauntFormer Defense Secretary Penny Mordaunt surged to prominence during the summer's leadership race, before finishing in third place to Truss and Sunak. Leader of the House of Commons Penny Mordaunt is seen as a consensus candidate who could unite a splintered Conservative Party.

☆ Factbox: How will the contest to replace Liz Truss as UK prime minister work?
▼ + stars: | 2022-10-20 | by ( ) www.reuters.com time to read: +2 min

Larry the cat sits outside Number 10 Downing Street following British Prime Minister Liz Truss resignation speech, in London, Britain, October 20, 2022. REUTERS/Toby MelvilleLONDON, Oct 20 (Reuters) - Britain's Liz Truss resigned as Conservative Party Leader on Thursday, with the internal party election to replace her as party leader and the nation's prime minister to be completed next week. The chair of the Conservative Party's 1922 Committee Graham Brady laid out the rules of the contest on Thursday. The result will be announced at 1700 GMT- There will be an indicative vote of lawmakers once there are two candidates- The vote between the final two candidates would then go to around 170,000 Conservative Party members via an online ballot- If a second vote is needed (indicative), this will be held between 1730 and 1930 on Monday The result will be announced at 2000 GMT. - The party members' ballot will close at 1000 GMT on Friday, Oct. 28 and the result will be announced the same dayRegister now for FREE unlimited access to Reuters.com RegisterReporting by Kylie MacLellan and Sachin Ravikumar; Editing by William JamesOur Standards: The Thomson Reuters Trust Principles.

☆ Embattled British PM Truss loses 2nd minister in a week amid political and economic turmoil
▼ + stars: | 2022-10-19 | by ( Associated Press | ) www.nbcnews.com time to read: +5 min

British Prime Minister Liz Truss described herself as “a fighter and not a quitter” Wednesday as she faced down a hostile opposition and fury from her own Conservative Party over her botched economic plan. And within hours of Truss’ appearance in Parliament for a regular session titled Prime Minister’s Questions, she lost a senior member of her government. Truss faced another test in Parliament later Wednesday when lawmakers vote on a Labour Party motion seeking to ban fracking for shale gas — a policy that Truss recently approved. Conservative Party whips said the vote would be treated as “a confidence motion in the government,” meaning the government would fall if the motion passed, triggering an election. Some Conservative legislators believe Truss could be forced to resign if the party agrees on a successor.

☆ Lawmakers will try to oust UK PM Truss this week, Daily Mail reports
▼ + stars: | 2022-10-16 | by ( ) www.reuters.com time to read: +1 min

Oct 16 (Reuters) - British lawmakers will try to oust Prime Minister Liz Truss this week despite Downing Street's warning that it could trigger a general election, the Daily Mail reported. Britain, engulfed in a political crisis, has lost three prime ministers since it voted to leave the European Union in 2016. Separately, The Times reported that some lawmakers have held secret discussions on replacing Truss with a new leader. Truss, who won the Conservative Party leadership last month after promising to slash taxes, is fighting for her political survival after ditching key parts of the programme. read moreThe chaos has fuelled discontent in the party, which is falling behind the opposition Labour Party in opinion polls.

☆ Factbox: How could British PM Truss be removed, and how would she be replaced?
▼ + stars: | 2022-10-14 | by ( Alistair Smout | ) www.reuters.com time to read: +4 min

LONDON, Oct 14 (Reuters) - British Prime Minister Liz Truss is clinging on to her job after a political crisis and market turmoil sparked by her fiscal plans that has seen her fire her finance minister and reverse major parts of her flagship tax-cutting agenda. CONFIDENCE VOTE AMONG CONSERVATIVE LAWMAKERSA vote of confidence among Conservative lawmakers is one mechanism to remove their party leader. However, as Truss only became leader last month, current rules say such a vote cannot be held until September 2023. CONFIDENCE VOTE AMONG ALL LAWMAKERS IN PARLIAMENTA vote of no confidence in the government could be put forward by opposition parties. - If Truss resigns or loses a vote of confidence among Conservative lawmakers in her leadership, there is a process to select a new leader, overseen by the 1922 Committee.

☆ Jeremy Hunt replaces Kwarteng as Britain's finance minister
▼ + stars: | 2022-10-14 | by ( ) www.reuters.com time to read: +1 min

LONDON, Oct 14 (Reuters) - Former foreign minister Jeremy Hunt has been appointed Britain's finance minister, Prime Minister Liz Truss's office said on Friday, following Kwasi Kwarteng's resignation from the post after less than six weeks in the job. A former foreign minister, Hunt has twice been unsuccessful in running for the governing Conservative Party's leadership, once losing to Boris Johnson and then being knocked out in the first round of voting in a contest which saw Truss take the prize. Seen as on the centre-right of the party, Hunt endorsed Truss's leadership rival, former finance minister Rishi Sunak to become prime minister, and is seen by many in the party as a safe pair of hands. Hunt, who has also previously served as health minister and culture minister, becomes Britain's fourth finance minister in as many months. Truss's office also said Edward Argar had replaced Chris Philp as Chief Secretary to the Treasury, the second most important job in the department.

☆ UK Finance Minister Kwasi Kwarteng fired after market chaos and tax-cutting plans
▼ + stars: | 2022-10-14 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

Kwasi Kwarteng, UK chancellor of the exchequer, speaks at a fringe event during the Conservative Party's annual autumn conference in Birmingham, UK, on Tuesday, Oct. 4, 2022. LONDON — British Finance Minister Kwasi Kwarteng was fired on Friday after less than six weeks in the role, amid mounting political pressure and market chaos. "The economic environment has changed rapidly since we set out the Growth Plan on 23 September. The Medium-Term Fiscal Plan is crucial to this end, and I look forward to supporting you and my successor to achieve that from the backbenches." Jeremy Hunt — a former Health Secretary and Foreign Secretary — was announced as Kwarteng's successor.

☆ UK's Kwarteng, seeking to calm markets, brings forward budget date
▼ + stars: | 2022-10-10 | by ( Andy Bruce | ) www.reuters.com time to read: +4 min

Kwarteng said the new date for his medium-term fiscal statement would allow the independent Office For Budget Responsibility (OBR) enough time to assess updates to official data and for a full forecast process to take place. British Chancellor of the Exchequer Kwasi Kwarteng speaks during Britain's Conservative Party's annual conference in Birmingham, Britain, October 3, 2022. Junior Treasury minister Andrew Griffith said market practitioners he had spoken to received news of the new date for the fiscal statement warmly. HALLOWEENThe new date for the fiscal plan leaves Kwarteng and Truss with little more than two weeks to settle divisions in her cabinet over cuts to government spending. Truss was no longer expected to appoint Antonia Romeo to run the Treasury, the FT said, citing senior government figures.

Mel Stride, a lawmaker who chairs the Treasury Committee in the lower house of parliament and had criticised Scholar's departure, said the appointment would help reassure investors. The moves came as Kwarteng prepared to head to Washington this week with International Monetary Fund criticisms of Britain's new policy direction ringing in his ears. British Chancellor of the Exchequer Kwasi Kwarteng speaks during Britain's Conservative Party's annual conference in Birmingham, Britain, October 3, 2022. Kwarteng said the new date for his medium-term fiscal statement would give the independent Office For Budget Responsibility (OBR) enough time to carry out a full forecast. The new date for the fiscal plan leaves Kwarteng and Truss with little more than two weeks to settle divisions in her cabinet over cuts to government spending.

☆ Thousands of UK bus drivers plan strikes over pay - union
▼ + stars: | 2022-09-21 | by ( ) www.reuters.com time to read: +2 min

An Arriva bus makes its way down a narrow street near Wouldham, Britain, December 20, 2021. REUTERS/Kevin CoombsLONDON, Sept 21 (Reuters) - Thousands of bus drivers in London and the neighbouring county of Kent plan to strike in a dispute over pay, the Unite union said, threatening further disruption to a transport system already facing walkouts by railway workers early next month. More than 2,000 drivers at bus operator Arriva will strike from Oct. 4 in London, Unite said on Wednesday, while 600 Kent-based staff employed by the same company will walk out on Sept. 30. read moreRegister now for FREE unlimited access to Reuters.com RegisterUnite said the strike by London bus drivers would run continuously until the dispute was resolved. "Arriva has totally failed to address the strength of feeling among our members as they see their rates of pay eroded.

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