Britain's former finance minister Rishi Sunak confirmed on Sunday he was standing to replace Liz Truss as prime minister.
"The United Kingdom is a great country but we face a profound economic crisis," he said on Twitter.
"That's why I am standing to be leader of the Conservative Party and your next prime minister."
Sunak was defeated by Truss in the race to replace Boris Johnson in September after losing an election held by members of the Conservative party across the country.
BORIS JOHNSON 'BOOED' ON FLIGHT FROM CARIBBEAN VACATION TO LONDON FOR POLITICAL COMEBACK: REPORT
Even before declaring on Sunday, Sunak had received more support from Conservative lawmakers than his rivals - former defense minister Penny Mordaunt and Johnson, who is attempting a comeback.
Sunak quit Johnson's government in July, helping trigger a rebellion that bought him down.
"There will be integrity, professionalism and accountability at every level of the government I lead and I will work day in and day out to get the job done," he said in a statement.
CLICK HERE TO GET THE FOX NEWS APP
"I am asking you for the opportunity to help fix our problems."