Industry reaction as Rishi Sunak becomes UK’s next prime minister

By Tom Lowe2022-10-24T14:04:00

Rival contender Penny Mordaunt pulls out meaning decision on UK’s next PM will not be taken by Conservative party membership

Rishi Sunak is set to become the next prime minister after his rival Penny Mordaunt pulled out of the leadership race just minutes before the results of the final round of voting were due to be announced.

Mordaunt’s move means Sunak is the only contender remaining and the decision over the UK’s new leader will no longer be taken by Conservative party members.

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