RIshi Sunak said “trust is earned and I will earn yours” as he said he intends to deliver on the Tory manifesto in 2019.

The prime minister said he “fully understands how difficult things are” amid the cost of living crisis.

He said that he was “not afraid, I know what a high position I have accepted, and I hope to live up to its requirements.”

He added: “But when the opportunity to serve arises, you cannot question the moment, only your desire.

“I stand before you ready to lead our country into the future, to put your needs before politics, to reach out and build a government that represents the best traditions of my party.

“Together we can achieve incredible things. We will create a future worthy of the sacrifices many have made, and fill tomorrow and every day with hope.”