Jul 2016 Financial News

May to become new UK PM

Jul 12, 2016

Theresa May is set to become the UK’s prime minister tomorrow evening—after David Cameron announced he would quit on Wednesday after Prime Minister’s Questions.

Speaking outside 10 Downing Street, Cameron said he would offer his resignation to the Queen tomorrow afternoon at Buckingham Palace.

May’s only rival to succeed Cameron as Conservative leader, Andrea Leadsom, pulled out earlier yesterday.

Cameron, PM since 2010, decided to quit after the UK’s Brexit vote.

In a brief statement outside No 10, Cameron said Leadsom had made “absolutely the right decision” to stand aside and that he was “delighted” May, the home secretary, was to succeed him.

He said a “prolonged period of transition” was not necessary, and added: “So tomorrow I will chair my last Cabinet meeting. On Wednesday I will attend the House of Commons for Prime Minister’s Questions.

“After that I expect to go to the Palace and offer my resignation.”

Cameron’s statement came after another day of dramatic developments in the political world, when Leadsom pulled out of the two-way leadership contest, leaving May—the front runner—as the only candidate to take over leading the party and become PM.

Leadsom said she did not have sufficient support among Conservative MPs to lead “a strong and stable government,” and gave her backing to the home secretary to succeed Cameron. (BBC)

Source:
Trinidad Guardian, A17
Tuesday July 12, 2016