Rishi Sunak

The Bank of England's top brass defended their record on Britain's monetary policy on Thursday, after a cabinet minister talked openly about diluting the central bank's operational independence.

British foreign minister Liz Truss clashed over the future of the economy with former finance minister Rishi Sunak on Thursday as the two contenders to be Britain's next prime minister debated the Bank of England's warnings of a long recession.

Former British finance minister Rishi Sunak said it was still "early days" in the contest to replace Prime Minister Boris Johnson, as two opinion polls showed his rival Liz Truss had extended her lead in the race to be Britain's next leader.

British foreign minister Liz Truss, the front-runner to replace Boris Johnson as prime minister, was forced to backtrack on one of her most striking pledges a day after announcing it following a backlash from fellow Conservatives and opposition parties.

Few members of the governing Conservative Party supported foreign secretary Liz Truss when the leadership contest began this month, but now there's a sense of inevitability that she will become Britain's next prime minister.

Former finance minister Sunak has denounced Truss's "fairy tale economics", vowing to tame surging inflation first, but has admitted that he is the "underdog" against the foreign secretary.

The final two candidates in the race to succeed British Prime Minister Boris Johnson clashed on Monday in a televised debate, during which they tore into each other's tax and spending plans.

Sunak won the two previous televised debates, according to snap polls, and the second one featured a no-holds-barred clash with Truss.

Differences over how to revive Britain's slow-growth, high-inflation economy could hardly be starker within the ruling Conservative Party as the two remaining contenders to become its new leader, and thereby prime minister, clash over tax.

If it's not the pictures of her standing atop a tank in a nod to Conservative leader Margaret Thatcher, it's the meme-defining moment when she vented her anger over cheese imports into Britain that made Liz Truss something of a household name.

Rishi Sunak will claim credit for steering Britain's economy through the COVID-19 crash but must overcome accusations that he is too rich and too willing to raise taxes to win the race to be the next prime minister.

Former finance minister Rishi Sunak and foreign secretary Liz Truss will battle it out to become Britain's next prime minister after they won the final lawmaker vote, setting up the last stage of the contest to replace Boris Johnson.

Britain's former finance minister Rishi Sunak again topped the latest vote by Conservative MPs to choose a new prime minister, as another candidate was eliminated to leave three contenders in the race.

MPs will keep voting until only two candidates remain, the winner then being decided by the party members.

A top Bank of England official pushed back on Monday at suggestions from a leading candidate to become Britain's next prime minister that the government should set a "clear direction of travel" for monetary policy.

The five Conservative contenders still vying to be Britain's next prime minister clashed over tax cuts in a second televised debate on Sunday, with the two frontrunners - Rishi Sunak and Liz Truss - stepping up their battle on the economy.

British foreign minister Liz Truss clashed over tax policy with former finance minister Rishi Sunak on Friday, as the five remaining contenders to be Britain's next prime minister went head-to-head in the first of three televised debates.

Sunak, who supported Brexit during the 2016 referendum, earned millions in finance before politics, and his Indian wife Akshata Murty's father co-founded the IT giant Infosys.

Former finance minister Rishi Sunak cemented his lead over rivals to become Britain's next prime minister on Thursday in an increasingly bitter race to replace Boris Johnson.

Half a world away from the political drama in London, many Indians are closely following the twists and turns of who replaces Boris Johnson as British prime minister, curious to see how two candidates with Indian ancestry fare.

Johnson is staying on in Downing Street as prime minister until the internal party contest finds his successor. The result is due on September 5.

Ex-finance minister Rishi Sunak and two others will start their campaigns on Tuesday to become Britain's next prime minister, battling for the support of a party deeply split over who should succeed Boris Johnson.

Promises of tax cuts from candidates to succeed British Prime Minister Boris Johnson pose another inflationary risk which could pressure the Bank of England to raise interest rates more aggressively, cancelling out any potential boost to the economy.

Nominations will officially open and close on Tuesday, with a new prime minister set to be installed when parliament returns from the summer break

Indian-origin British politician has come under fire for a 2001 video wherein he goes on to claim that he did not have any working-class friends.

British former finance minister Rishi Sunak said on Friday he was running to replace Boris Johnson, three days after helping to launch the cascade of resignations that brought the prime minister down.

The likely months-long campaign, potentially pitting more than a dozen Conservative MPs and multiple factions of the ruling party against each another, is set to be formalised Monday.

The early favourite is former finance minister Rishi Sunak, who launched his campaign Friday after helping to kickstart the cabinet revolt that led to Johnson's forced resignation

Britain's finance and health ministers resigned in quick succession on Tuesday, in moves that put the future of Prime Minister Boris Johnson in peril after a series of scandals that have damaged his administration.

The resignations -- after a succession of crises that led to a vote of confidence in Johnson's leadership -- did nothing to dampen speculation that both men still have an eye on the top job.