Rishi Sunak made a short speech to his party and the country, after being confirmed as the new Conservative leader and the next prime minister.

The former chancellor spoke at Conservative Party headquarters. Here is the full transcript.

“I’d like to pay tribute to Liz Truss for her dedicated public service to the country.

“She has led with dignity and grace through a time of great change and under exceptionally difficult circumstances, both at home and abroad.

“I am humbled and honoured to have the support of my parliamentary colleagues and to be elected as leader of the Conservative and Unionist Party.

“It is the greatest privilege of my life, to be able to serve the party I love and give back to the country I owe so much to.

“The United Kingdom is a great country, but there is no doubt we face a profound economic challenge.

“We now need stability and unity and I will make it my utmost priority to bring our party and our country together.

“Because that is the only way we will overcome the challenges we face and build a better, more prosperous future for our children and our grandchildren.

“I pledge that I will serve you with integrity and humility. And I will work day in, day out to deliver for the British people.”