Liz Truss defeats Rishi Sunak to become UK's new PM

Truss has won over 80,000 votes as compared to 60,000 odd votes of Sunak.

"I am honoured to be elected Leader of the Conservative Party. Thank you for putting your trust in me to lead and deliver for our great country.

"I will take bold action to get all of us through these tough times, grow our economy, and unleash the United Kingdom’s potential," Truss tweeted.

Truss will formally become the Prime Minister Tuesday after visiting the Queen in Balmoral in Scotland for an invitation to form the government.

Speaking shortly after her victory was announced in Westminster, Truss thanked Sunak and others for the "hard-fought" campaign in the leadership race.

Truss said she has a "bold plan" to cut taxes and grow the country's economy, BBC reported.

"We will deliver, we will deliver, we will deliver," said the PM-elect.

About 57 percent of valid votes cast were for Liz Truss. Turnout was pretty high too, with 82.6 percent of members casting a vote, with 654 rejected, possibly spoiled or filled out incorrectly, the BBC report said.

For comparison, Boris Johnson won 66.4% of the votes in 2019, David Cameron 67.6% in 2005 and Iain Duncan Smith 60.7% in 2001, it added.