Rishi Sunak is the current Prime Minister of the United Kingdom. He is one of the richest politicians in Westminster, Britain, as well as the first colored leader. He replaced former Prime Minister Liz Truss, who lasted only 44 days in the post before resigning.
Indian-born British politician Rishi Sunak’s campaign to become British Prime Minister following the resignation of Boris Johnson on July 7, 2022 has received support from UK Deputy Prime Minister Dominic Raab and Transport Minister Grant Shapps, who decided to drop his own leadership bid to support Sunak.
Rishi Sunak, 41, served as Chancellor of the Exchequer from 2020 to 2022 and was previously Chief Secretary to the Treasury from 2019 to 2020. Rishi Sunak is a member of the Conservative Party who was the Member of Parliament (MP) for Richmond (Yorks) since 2015.
Prime Minister Sunak is one of the heads of 40 nations participating in the 2023 G20 summit, which is being held in India for the first time in history. Rishi Sunak arrived in New Delhi on September 7, ahead of the September 9-10 summit. He was received at the airport by Ministry of Consumer Protection, Food and Public Distribution and Ministry of Environment, Forest and Climate Change, Ashwini Kumar Choubey. His arrival has caused a stir among netizens who are now calling him “India’s son-in-law”.
I landed in Delhi before #G20 summit.
I meet with world leaders to address some of the challenges that affect us all.
Only together can we get the job done. pic.twitter.com/72vE60c7Fg
— Rishi Sunak (@RishiSunak)
September 8, 2023
Let us look at the life of Rishi Sunak.
Biography of Rishi Sunak
| Birth | May 12, 1980 |
| Age | 42 years |
| Parents | Yashvir Sunak (Father) Usha Sunak (mother) |
| Education | Winchester College Lincoln College, Oxford Stanford University |
| Woman | Akshata Murthy |
| children | Two |
| Occupation | Politician Businessman Former investment analyst |
| Netto value | 3.1 billion pounds |
Rishi Sunak Biography: Birth, Age & Parents
Rishi Sunak was born on 12 May 1980 in Southampton, Hampshire, South East England to Indian parents Yashvir and Usha Sunak who were born in Kenya and Tanzania respectively. His father was a general practitioner, and his mother was a pharmacist who ran a local pharmacy.
Sunak’s grandparents were born in the Punjab province of British India and immigrated to the UK in the 1960s from East Africa. Sunak is the oldest of three siblings. His brother Sanjay is a psychologist and his sister Rakhi works as Head of Humanitarian Affairs, UN Peacebuilding Funds and Programs at the Foreign, Commonwealth and Development Office.
Education of Rishi Sunak
He is an alumnus of Winchester College, Lincoln College, Oxford and Stanford University. During the summer holidays, Sunak was a waiter at a curry restaurant in Southampton.
Business career of Rishi Sunak
During his time at the university, he interned at the Conservative campaign headquarters. From 2001 to 2004, he worked as an analyst at the investment bank Goldman Sachs. He left his job to join The Children’s Investment Fund Management (TCI) and became a partner in September 2006. He joined another hedge fund firm, Theleme Partners, in 2009. He was also a director of Catamaran Ventures, an investment firm owned by his father. – entrepreneur and businessman NR Narayana Murthy.
Rishi Sunak: As a leading candidate for Prime Minister of the United Kingdom
Rishi Sunak announced on 8 July 2022, the day after the resignation of former British Prime Minister Boris Johnson, that he would stand in the Conservative Party leadership election to replace Boris Johnson. Conservative politicians who backed Boris Johnson criticized Rishi Sunak as leading the charge to oust the prime minister.
The readyforrishi.com domain was first registered with GoDaddy on December 23, 2021, while ready4rishi.com was registered on July 6, 2022, two days after he resigned as chancellor. The first domain acts as a redirect to the latter.
Political career of Rishi Sunak
In 2014, he was selected as the Conservative candidate for Richmond (Yorks), a seat previously held by William Hague. This seat has been held by the Conservative Party for over 100 years. That year he led the Black and Minority Ethnic (BME) Policy Exchange Research Unit and co-authored a report on BME communities in the UK.
In the 2015 General Election, he was elected as the MP for Richmond (Yorks). From 2015 to 2017, he was a member of the Select Committee for Environment, Food and Rural Affairs.
He supported the EU referendum in 2016. He also wrote a report for the Center for Policy Studies supporting the establishment of free ports after Brexit, and the following year wrote a report arguing for the creation of a retail bond market for SMEs.
He was re-elected as a representative from the same seat in the 2017 General Election. He served as Parliamentary Under-Secretary from January 2018 to July 2019. He supported Prime Minister Boris Johnson in the 2019 Conservative leadership election and even co-wrote an article in the UK’s National Daily to advocate for Johnson during the June 2019 campaign.
Sunak was re-elected in the 2019 general election and was appointed Chief Secretary to the Treasury in July 2019 by Prime Minister Boris Johnson, serving under Chancellor Sajid Javid. He became a member of the Privy Council on July 25, 2019.
After the government reshuffle in February 2020, Sunak was promoted to the chancellor of the state treasury.
In the midst of the COVID-19 pandemic, Sunak presented its first budget on 11 March 2020. As the pandemic created a financial impact, Sunak announced £30 billion of additional spending, of which £12 billion was allocated to mitigate the economic impact of COVID. -19 pandemics.
On 17 March 2020, he announced £330bn of emergency support for businesses and a wage subsidy scheme for employees. Three days later, he announced a job retention program, but was met with fierce backlash as an estimated 100,000 people did not qualify for it. The program has been extended until September 30, 2021.
Sunak unveiled the £30 billion Eat Out to Help Out program to support and create jobs in the hospitality industry. The government subsidizes food and soft drinks in participating cafes, pubs and restaurants by 50%, up to £10 per person. The offer was available from 3 to 31 August 2020, Monday to Wednesday. While some consider the program a success as it subsidized £849 million in meals, others disagree. A study at the University of Warwick found that the scheme contributed to an increase in COVID-19 infections of between 8% and 17%.
In his March 2021 Budget, Sunak announced that the deficit had risen to £355bn in the 2020-21 financial year, the highest in peacetime. It increased corporate tax from the previous 19% to 25% in 2023, a five-year freeze on the tax-free personal deduction and a higher income tax threshold rate.
At the G7 summit in June 2021, a tax reform agreement was signed to establish a global minimum tax for multinational and Internet technology companies. In October 2021, the OECD signed an agreement to join the tax reform plan.
In October 2021, he presented his third budget which included £5bn for health research and innovation and £3bn for skills education.
Wife of Rishi Sunak
Rishi Sunak married Akshat Murthy in August 2009. The couple has two daughters. His wife is the daughter of Indian billionaire NR Narayana Murthy and works as a director of Catamaran Ventures. She also runs her own fashion label and is one of the richest women in Britain.
Rishi Sunak’s wife’s non-domicile status and green card
Rishi Sunak’s wife Akshata Murthy is non-domiciled, meaning she is not liable to pay tax on any income she earned abroad while living in the UK. Murthy pays around £30,000 to secure the status, which further allows her to avoid paying an estimated £20m in UK tax.
Following the media controversy over the issue that arose during Rishi Sunak’s announcement to run for Prime Minister, Akshata Murthy announced on 8 April 2022 that she would pay UK tax on her global income. She further added that she did not want it to be a problem or a distraction from her husband’s plans.
It was also allegedly revealed that Rishi Sunak held a US permanent resident card he acquired in the 2000s until 2021, including for 18 months after he was chancellor, which required the completion of US tax returns.
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Source: HIS Education