The Conservative Party of the United Kingdom has elected Rishi Sunak as its new leader.
According to a statement made by Sir Graham Brady, the 1922 Committee only received one nomination for the position of new party leader that was supported by 100 MPs.
Sunak was thus proclaimed by Sir Brady to be the new party leader and, as a result, the new Prime Minister.
He said that Rishi Sunak, the new Tory leader, will speak to MPs at 14:30 BST.
Sunak is the only candidate for the role after Penny Mordaunt, one of the earlier contenders for the top position in the UK, declared her resignation from the contest.
Mordaunt, in a statement, said, “Our Party is our membership. Whether we are elected representatives, activists, fundraisers or supporters. We all have a stake in who our leader is.
“These are unprecedented times. Despite the compressed timetable for the leadership contest, it is clear that colleagues feel we need certainty today. They have taken this decision in good faith for the good of the country.
“Members should know that this proposition has been fairly and thoroughly tested by the agreed 1922 process.
“As a result, we have now chosen our next Prime Minister. This decision is a historic one and shows, once again, the diversity and talent of our party. Rishi has my full support.
“I am proud of the campaign we ran and grateful to all those, across all sides of our party, who gave me their backing. We all owe it to the country, to each other, and to Rishi to unite and work together for the good of the nation. There is much work to be done.”