Here’s a rundown of what we’re expecting today:
Liz Truss will chair her final Cabinet meeting at 9 a.m. (4 a.m. ET), where she will likely thank ministers for their brief stints in her government.
Truss is expected to give a speech outside Downing Street at 10:15 a.m.
Immediately afterwards, the outgoing leader will travel to Buckingham Palace to formally resign to King Charles.
Then, Rishi Sunak will meet with the monarch and accept his request to form a government. This is the moment that Sunak becomes prime minister.
At about 11:35 a.m., Sunak will make his first speech outside Downing Street.
Rishi Sunak: Britain's latest Prime Minister
Andy Warhol once said that, in the future, everyone will be famous for 15 minutes.
Perhaps he should have predicted that everyone will get to lead the Conservative Party for two months.
Rishi Sunak won Monday’s latest leadership contest seven weeks after losing the previous one to Liz Truss, and on Tuesday he will succeed Truss, become the first person of color to lead Britain.
It’s a screeching about-turn even for the UK’s whirlwind political scene. And it demonstrates the chaotic battle for control at the top of Britain’s ruling party as much as Sunak’s own rapid rise to the pinnacle of politics.
But appointing a new leader became a necessity after Truss’s disastrous term tanked the markets and forced her out of office in record time. Her tenure will end on Tuesday morning, the 50th day of her shambolic stint in office.
Sunak will follow Truss, Boris Johnson, Theresa May as post-Brexit PMs who wrangled for authority in a divided party after David Cameron quit in the wake of the 2016 referendum.
And he will need to address a swelling cost-of-living crisis that has left British families struggling to pay the bills, while also managing a war in Europe and seeking to salvage Britain’s global reputation.
Those tasks and many more begin later on Tuesday, when King Charles III appoints a Prime Minister for the first time and fires the starting gun on Sunak’s tenure.