Rishi Sunak (42) is the new British Prime Minister. The British King Charles III. (73) appointed him on Tuesday at London's Buckingham Palace. A photo of the meeting was posted on the royal family's Instagram account. It shows the two men smiling and shaking hands.

"The King received MP Rishi Sunak at Buckingham Palace today," the photo reads. "His Majesty asked him to form a new government. Mr Sunak accepted His Majesty's offer and was appointed Prime Minister and First Lord of the Treasury."

After the traditional "kissing hands" ceremony, Prime Minister Sunak has meanwhile delivered his first speech in front of the Prime Minister's office at 10 Downing Street in London. In a depressing speech, he warned of "difficult" decisions to deal with the "deep economic crisis" the country was facing and said he understood Britons were suffering. "I understand very well how difficult things are," he added.