After walking up Downing Street with no supporters present, and with a serious face, Mr Sunak reiterated his comments from yesterday, saying the country was “facing a profound economic crisis” and there were “difficult decisions” to come.
But he pledged to approach the problems with “compassion” and “to place economic stability and confidence at the heart of this government’s agenda”.
The new PM added: “The government I lead will not leave the next generation, your children and grandchildren, with a debt to settle that we were too weak to pay ourselves.”
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Mr Sunak made his political comeback on Monday, being appointed as the new Conservative Party leader unopposed after former prime minister Boris Johnson decided not to run and Commons leader Penny Mordaunt dropped out at the last minute.
Winning the leadership also meant he won the keys to Number 10, making him the UK’s first British Asian and Hindu prime minister, and earlier today he was asked by the King at Buckingham Palace to form a government before officially taking power.
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The newest and youngest PM in modern times will now begin appointing his top team, with all eyes on which cabinet ministers will be in and out.
Mr Sunak replaces Ms Truss, who had seen him off during the summer-long leadership contest to take over from Mr Johnson, but became the UK’s shortest ruling prime minister after the disaster of her tax slashing mini-budget.
Earlier, after holding a cabinet meeting for the final time, Ms Truss had an audience with the King to formally offer her resignation.
In her final speech as PM, she wished Mr Sunak “every success” adding: “I know brighter days lie ahead.”
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0:39
Truss: ‘I believe in Britain’
In a speech that lasted just under six minutes, Mr Sunak praised another of his predecessors, Mr Johnson, for “his warmth and generosity of spirit”.
But he said the manifesto the Tory Party was elected on in 2019 was “not the sole property of any one individual” and he would “deliver on its promise”.
The PM pointed to pledges on the NHS, education, controlling immigration and protecting the environment, as well as giving his commitment to Ukraine, saying it was a “terrible war that must be seen successfully to its conclusions”.
However, one of his main messages was that his government would have “integrity, professionalism and accountability” as he attempted to win back the trust of the public after recent weeks.
“Trust is earned,” he said. “And I will earn yours.”
Mr Sunak said he was “not daunted” by the task, adding: “When the opportunity to serve comes along, you cannot question the moment, only your willingness.
“So I stand here before you ready to lead our country into the future, to put your needs above politics, to reach out and build a government that represents the very best traditions of my party.
“Together we can achieve incredible things. We will create a future worthy of the sacrifices so many have made and fill tomorrow, and everyday thereafter with hope.”
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1:58
How did Sunak’s win go down on Diwali?
In his first remarks since announcing he would not seek a return to Number 10, Mr Johnson congratulated the new incumbent, calling it an “historic day”.
He tweeted: “This is the moment for every Conservative to give our new PM their full and wholehearted support.”
High profile Tories joined him in sending praise on social media, with Suella Braverman, Priti Patel and Sajid Javid among the first to celebrate the appointment.
Labour leader Sir Keir Starmer also congratulated Mr Sunak on “making history as the first British Asian PM”.
But he said the Tories had “crashed the economy, with low wages, high prices and a cost of living crisis”, and he reiterated his call for an immediate general election, adding: “The public needs a fresh start and a say on Britain’s future.”
Liberal Democrat leader Sir Ed Davey echoed the sentiment, tweeting: “Rishi Sunak’s words will do nothing to reassure struggling people worried sick about the winter ahead.
“He says he wants to win the public’s trust, but refuses to trust the public with a general election.”
A body has been recovered from a South African mine after police cut off basic supplies in an effort to force around 4,000 illegal miners to resurface.
The body has emerged from the closed gold mine in the northwest town of Stilfontein a day after South Africa’s government said it would not help the illegal miners.
Around 20 people have surfaced from the mineshaft this week as police wait nearby to arrest all those appearing from underground.
It comes a day after a cabinet minister said the government was trying to “smoke them [the miners] out”.
The move is part of the police’s “Close the Hole” operation, whereby officers cut off supplies of food, water and other basic necessities to get those who have entered illegally to come out.
Local reports suggest the supply routes were cut off at the mine around two months ago, with relatives of the miners seen in the area as the stand-off continues.
A decomposed body was brought up on Thursday, with pathologists on the scene, police spokesperson Athlenda Mathe said.
It comes after South African cabinet minister Khumbudzo Ntshavheni told reporters on Wednesday that the government would not send any help to the illegal miners, known in the country as zama zamas, because they are involved in a criminal act.
“We are not sending help to criminals. We are going to smoke them out. They will come out. Criminals are not to be helped; criminals are to be prosecuted. We didn’t send them there,” Ms Ntshavheni said.
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Senior police and defence officials are expected to visit the area on Friday to “reinforce the government’s commitment to bringing this operation to a safe and lawful conclusion”, according to a media advisory from the police.
In the last few weeks, over 1,000 miners have surfaced at various mines in South Africa’s North West province, where police have cut off supplies.
Many of the miners were reported to be weak, hungry and sickly after going for weeks without basic supplies.
Illegal mining remains common in South Africa’s old gold-mining areas, with miners going into closed shafts to dig for any possible remaining deposits.
The illegal miners are often from neighbouring countries, and police say the illegal operations involve larger syndicates that employ the miners.
Their presence in closed mines has also created problems with nearby communities, which complain that the illegal miners commit crimes ranging from robberies to rape.
Illegal mining groups are known to be heavily armed and disputes between rival groups sometimes result in fatal confrontations.
In the courtyard of a farmhouse now home to soldiers of the Ukrainian army’s 47th mechanised brigade, I’m introduced to a weary-looking unit by their commander Captain Oleksandr “Sasha” Shyrshyn.
We are about 10km from the border with Russia, and beyond it lies the Kursk region Ukraine invaded in the summer – and where this battalion is now fighting.
The 47th is a crack fighting assault unit.
They’ve been brought to this area from the fierce battles in the country’s eastern Donbas region to bolster Ukrainian forces already here.
Captain Shyrshyn explains that among the many shortages the military has to deal with, the lack of infantry is becoming a critical problem.
Sasha is just 30 years old, but he is worldly-wise. He used to run an organisation helping children in the country’s east before donning his uniform and going to war.
He is famous in Ukraine and is regarded as one of the country’s top field commanders, who isn’t afraid to express his views on the war and how it’s being waged.
His nom de guerre is ‘Genius’, a nickname given to him by his men.
‘Don’t worry, it’s not a minefield’
Sasha invited me to see one of the American Bradley fighting vehicles his unit uses.
We walk down a muddy lane before he says it’s best to go cross-country.
“We can go that way, don’t worry it’s not a minefield,” he jokes.
He leads us across a muddy field and into a forest where the vehicle is hidden from Russian surveillance drones that try to hunt both American vehicles and commanders.
Sasha shows me a picture of the house they had been staying in only days before – it was now completely destroyed after a missile strike.
Fortunately, neither he, nor any of his men, were there at the time.
“They target commanders,” he says with a smirk.
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It takes me a moment or two to realise we are only a few steps away from the Bradley, dug in and well hidden beneath the trees.
Sasha tells me the Bradley is the finest vehicle he has ever used.
A vehicle so good, he says, it’s keeping the Ukrainian army going in the face of Russia’s overwhelming numbers of soldiers.
He explains: “Almost all our work on the battlefield is cooperation infantry with the Bradley. So we use it for evacuations, for moving people from one place to another, as well as for fire-covering.
“This vehicle is very safe and has very good characteristics.”
Billions of dollars in military aid has been given to Ukraine by the United States, and this vehicle is one of the most valuable assets the US has provided.
Ukraine is running low on men to fight, and the weaponry it has is not enough, especially if it can’t fire long-range missiles into Russia itself – which it is currently not allowed to do.
Sasha says: “We have a lack of weapons, we have a lack of artillery, we have a lack of infantry, and as the world doesn’t care about justice, and they don’t want to finish the war by our win, they are afraid of Russia.
“I’m sorry but they’re scared, they’re scared, and it’s not the right way.”
Like pretty much everyone in Ukraine, Sasha is waiting to see what the US election result will mean for his country.
He is sceptical about a deal with Russia.
“Our enemy only understands the language of power. And you cannot finish the war in 24 hours, or during the year without hard decisions, without a fight, so it’s impossible. It’s just talking without results,” he tells me.
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These men expect the fierce battles inside Kursk to intensify in the coming days.
Indeed, alongside the main supply route into Kursk, workers are already building new defensive positions – unfurling miles of razor wire and digging bunkers for the Ukrainian army if it finds itself in retreat.
Sasha and his men are realistic about support fatigue from the outside world but will keep fighting to the last if they have to.
“I understand this is only our problem, it’s only our issue, and we have to fight this battle, like we have to defend ourselves, it’s our responsibility,” Sasha said.
But he points out everyone should realise just how critical this moment in time is.
“If we look at it widely, we have to understand that us losing will be not only our problem, but it will be for all the world.”
Stuart Ramsay reports from northeastern Ukraine with camera operator Toby Nash, and producers Dominique Van Heerden, Azad Safarov, and Nick Davenport.
The adverse weather could lead to total insured losses of more than €4bn (£3.33bn), according to credit rating agency Morningstar DBRS.
Much of the claims are expected to be covered by the Spanish government’s insurance pool, the agency said, but insurance premiums are likely to increase.