Liz Truss has retired as Prime Minister of the UK with a closing speech at 10 Downing Street.

Truss says it is a “great honor” to lead the country after the death of Queen Elizabeth and when King Charles became the new head of state. The Queen died two days after taking office. She said she acted “decisively” in a short period of time to address the country’s economic woes. Due to the great dissatisfaction with her policy, she resigned last week.

Truss held a final meeting with her cabinet this morning. After her speech, she traveled to Buckingham Palace to officially offer her resignation to King Charles. Last month, Truss paid a similar visit to Queen Elizabeth when she took office. She is the shortest-serving prime minister Britain has ever had: she was in office for 45 days.

In her farewell speech in front of the office, Truss was proud of what she had achieved:

After saying goodbye to Truss, Rishi Sunak pays the King a visit to the palace, where he is appointed Prime Minister of the United Kingdom. He will then give his first speech at 10 Downing Street. Sunak, 42, will become Britain’s fifth Prime Minister in six years.

New party leader

Sunak, the former finance minister, was yesterday elected by the Conservative Party as their new leader. He is automatically the new Prime Minister of the country. After Boris Johnson resigned, he tried to become party leader but lost to Truss. When she announced her departure on Thursday after weeks of political and financial crisis, Sunak was running for re-election

After his appointment as prime minister, Sunak will form a new government. He faces a difficult task as the country heads towards an economic recession. The country is facing a gas crisis and high inflation. After his election yesterday, he said in a short speech that he wanted to focus on economic stability and unite the divided party.

Sunak acknowledged that the country faces a very tough “economic challenge”. His first confrontation with the opposition is tomorrow at the weekly Question Time in the House of Commons.

Youngest and richest Prime Minister

Sunak was born in Southampton to a family of Indian descent. He is the first British Prime Minister to adhere to Hinduism and the first Prime Minister of color. At 42, he is the youngest prime minister in more than 200 years. With an estimated family fortune of 850 million euros, he will become the richest prime minister Britain has ever had.