[Jimbuna]

Rishi Sunak has become the new UK prime minister after meeting King Charles at Buckingham Palace.

In his first speech, he says the UK is facing a "profound economic crisis" and that he has been chosen as the new Tory leader to fix some of Liz Truss's mistakes.

"Trust is earned, and I will earn yours," he tells the public from outside No 10 Downing Street.

In a short farewell speech earlier, Liz Truss defended her legacy of trying to push through tax cuts and said leaders needed to be bold.

Sunak will be UK's third leader in seven weeks after winning a Tory leadership contest triggered by Truss stepping down.

After being selected by Tory MPs on Monday, he warned the country faced a "profound economic challenge"

Sunak ruled out an early general election, despite calls from Labour, the Scottish National Party, the Liberal Democrats and the Green Party.