The new Tory leader hails his predecessor’s “will for change” but acknowledges that “mistakes were made.”

In his inaugural address as prime minister, Rishi Sunak stated that he was chosen to “correct” the faults done by his predecessor, Liz Truss.

Speaking outside 10 Downing Street, the former chancellor lauded his predecessor’s “restlessness” and “noble objective” to increase economic growth in the United Kingdom.

However, he said, “Some errors were made, not out of malice or evil motives – quite the reverse, in fact – but errors.”

After entering Downing Street alone and with a somber expression, Mr. Sunak echoed his remarks from yesterday, stating that the nation was “facing a grave economic crisis” and that “tough decisions” lay ahead.

However, he committed to handling the issues with “compassion” and “to place economic stability and confidence at the center of this administration’s mission.”

“The administration I lead will not leave your children and grandkids with a debt that we were too weak to pay ourselves,” the new prime minister stated.

Mr. Sunak made his political return on Monday after being appointed unopposed as the new leader of the Conservative Party in the wake of former prime minister Boris Johnson’s choice not to run and Commons leader Penny Mordaunt’s late withdrawal.

In addition to winning the leadership, he also received the keys to Number 10, making him the first British Asian and Hindu prime minister. Earlier today, the King at Buckingham Palace requested that he form a government before assuming office.

The newest and youngest prime minister in modern history will now begin picking his top team, with all eyes on which cabinet ministers will be appointed and which will be dismissed.

Mr. Sunak replaces Ms. Truss, who saw him off during the summer-long leadership contest to succeed Mr. Johnson but became the United Kingdom’s shortest-serving prime minister following the failure of her tax-cutting mini-budget.

After holding her final cabinet meeting, Ms. Truss had an audience with the King to formally tender her resignation.

In her final address as prime minister, she wished Mr. Sunak “every success” and added, “I know that better days lie ahead.”

Mr. Sunak lauded one of his predecessors, Mr. Johnson, for “his warmth and generosity of spirit” in a speech that lasted just under six minutes.

However, he stated that the manifesto upon which the Conservative Party was elected in 2019 was “not the sole property of any one individual” and that he would “fulfill its promise.”

The prime minister highlighted his commitment to the NHS, education, immigration control, and environmental protection, as well as to Ukraine, describing it as an “awful war that must be successfully concluded.”

To regain the public’s faith after recent events, one of his primary messages was that his government will operate with “integrity, professionalism, and accountability.”

Trust must be earned,” he stated. And I will earn yours as well.

Mr. Sunak stated that he was “not intimidated” by the assignment and added, “When the opportunity to serve presents itself, you cannot question the moment, just your readiness.

Therefore, I stand before you prepared to lead our nation into the future, to put your needs ahead of politics, and to reach out and form a government that reflects the finest traditions of my party.

Together, we can accomplish extraordinary feats. We shall establish a future worthy of the sacrifices made by so many and infuse tomorrow and every subsequent day with hope.”

In his first words since announcing he will not seek re-election to No. 10, Mr. Johnson welcomed the incoming prime minister and referred to the occasion as “historic.”

He tweeted, “Now is the time for all Conservatives to give our new Prime Minister their entire hearted support.”

Suella Braverman, Priti Patel, and Sajid Javid were among the first prominent Conservatives to congratulate him on his appointment via social media.

Sir Keir Starmer, leader of the Labour Party, congratulated Mr. Sunak on “making history as the first British Asian prime minister.”

However, he stated that the Conservatives had “crashed the economy, with low salaries, rising prices, and a cost of living crisis,” and he renewed his call for an immediate general election, adding, “The people want a clean slate and a voice in Britain’s destiny.”

Liberal Democrat leader Sir Ed Davey echoed the sentiment, saying, “Rishi Sunak’s statements will do little to calm the nerves of those who are struggling and fearful of the upcoming winter.

“He claims he wants to earn the public’s trust, but he refuses to hold a general election in their hands.”