Rishi Sunak is the next Prime Minister of UK, tasked to steer the economically floundering nation days after his predecessor Liz Truss stepped down, conceding defeat. At age 42, he is the youngest and the first person of colour to hold the post. In his first address to the people after being named Prime Minister, Rishi Sunak said it was the ‘Greatest privilege of my life…Will work day in and out to deliver’.Rishi Sunak is the third Prime Minister UK had in seven months. Liz Truss — who pipped him to the post in the party’s internal election and succeeded Boris Johnson — quit on October 20 after only 45 days in office. Johnson, who entered the race again last week, cutting short a Caribbean holiday, ended his bid for the post yesterday in a surprise decision. He said he would not be able to lead a united party in Parliament.UK is facing an economically toxic combination of recession and rising interest rates. Critics blame the economic downturn on the Conservative Party and what they call its series of miscalculation.