Rishi Sunak, a former chancellor of Indian descent, formally announced his candidacy for the Conservative Party leadership race on Sunday in an effort to succeed Liz Truss as British Prime Minister and revive the economy. He claimed he was searching for work with the government. With the backing of 128 Tory lawmakers, Rishi Sunak, 42, is leading the party's prime ministerial campaign. There will be a three-way race between Sunak, Johnson, and Penny Mordant despite the fact that former prime minister Boris Johnson has not yet made a formal announcement of his candidacy. Sunak wrote in his campaign pitch, "The United Kingdom is a great country but we confront a serious economic catastrophe. "For this reason, I'm running to be the Conservative Party's leader and your next prime minister." He wrote on Twitter, "I want to fix our economy, bring our party together, and deliver for our country."