Rishi Sunak, a former finance minister of the United Kingdom, declared on Sunday, October 23, that he was running for prime minister to succeed Liz Truss.
He wrote on Twitter, "The United Kingdom is a fantastic country, but we confront a severe economic situation.
"For this reason, I'm running to be the Conservative Party's leader and your next prime minister."
After losing a nationwide election organized by Conservative party members, Sunak was defeated by Truss in the contest to succeed Boris Johnson in September.
Prior to making his announcement on Sunday, Sunak had already earned more backing from Conservative legislators than his competitors, Johnson and former defense minister Penny Mordaunt.
Sunak left Johnson's ministry in July, contributing to an uprising that helped him.
As the former finance minister of the United Kingdom, experts believe he is the best man for the job. He will confront the severe economic situation and pull Britain from the economic challenge It currently faced.