Do you know that Rishi Sunak is UK’s youngest Prime Minister? At 42, Rishi Sunak has become the first Indian-origin Prime Minister of the UK. Sunak is the first Indian-origin and non-white Prime Minister of Britain. Moreover, he is invited to take an oath as Prime Minister by King Charles III to form a government. In his winning speech, Sunak said that he has appointed to fix the mistakes of the previous government and warned the citizens that they might face risks to overcome the financial crisis. He is an exceptional individual and continued to be an excellent blend of strong and effective advocates as Prime Minister of the United Kingdom. In this blog, you will be reading interesting facts about UK Prime Minister Rishi Sunak that you might not know about.
Beginning of a Successful Career
Rishi Sunak was born to Southeast African-born Hindu parents in Southampton, Hampshire. He finished his education at Winchester College, where he was a head boy and later on he worked as a server at a curry house during summer holidays. Sunak completed the graduation degree of MBA (Master in Business Administration) from Stanford University. He stood in the Conservative party leadership election and was elected unopposed as its leader. Sunak has become the first British Asian and Hindu to hold the position of British Prime Minister. He studied politics, philosophy, and economics at the University of Oxford and received a first-class degree.
Cheerful Personal Life
Sunak met Akshatha Murthy while learning MBA at Stanford University and got married a couple of years later. She is the daughter of N.R. Narayan Murthy, who is the founder of Infosys Software Company and gains a 0.91% stake in the company, worth about £700m. Rishi and Akshatha have two daughters, Krishna and Anoushka.
His father Yashvir Sunak was an NHS General Practitioner and his mother Usha Sunak ran her own pharmacy shop. His parents prioritized his education and made sure he gets the best academic facilities as a student.
Business Career of UK Prime Minister Rishi Sunak
Sunak worked as an analyst for the investment bank Goldman Sachs. He handled hedge funds for the firm ‘Children’s Investment Fund Management. Thereafter, he joined his former colleagues at a new hedge fund firm called Theleme Partners in California. He worked as a director of the investment firm Catamaran Venture, which was owned by his father-in-law N. R. Narayan Murthy.
Sunak loves to study economics, and he collaborated with Saratha Rajeswaran in his debut book “A portrait of Modern Britain”, published by Policy Exchange. The book talks about demography, social change, and ethnicity in the UK. He released his second book, “The free ports opportunity”, which talks about how new ports created post-Brexit can benefit UK trade.
Political Achievements of Rishi Sunak
Rishi Sunak served as Chancellor of the Exchequer and as chief secretary to the Treasury. He had been the Member of Parliament (MP) since 2015. The seat he held was one of the safest Conservative seats in the United Kingdom and has been held by the party for over 100 years. Sunak headed the Black and Minority Ethnic (BME) Research Unit and has been a member of the Environment, Food, and Rural Affairs Select Committee. He wrote the report for the Centre for Policy Studies to support Brexit (the UK leaving the European Union) and support the establishment of free ports.
Sunak reported the creation of a retail bond market for small and medium-sized enterprises. He also served as a member of the Privy Council and also, promoted to chancellor as part of a cabinet reshuffle. In the early stages of the COVID-19 pandemic, he became popular by the standards of British politics. He opposed the migration of the LGBTQ community and fought for their rights in order to vanish prejudices regarding them.
Rise to the top
Rishi Sunak has gone from MP to Prime Minister Position in just seven years and that could be faster than any other PM in the modern era. He experienced an unusual path in his career; after losing to Liz Truss in a vote of Tory members, Sunak was supposed to disappear from politics. However, he gathered his supporters in the summer campaign and today he is more than just a businessman and politician.
Critics and oppositions define his leadership as fiscal conservatism instead today he announced in his winning speech to have a highly productive economy in the upcoming days. Sunak backed low taxation but agreed on an affordable and deliverable taxation system.
What’s next?
Multiple numbers of issues are waiting in Sunak’s tray to be resolved. Similarly, other financial complications like an unstable economy and unemployment are yet to sort out. He turned off the household support for energy bill taxation and decided to meet the arbitrary target of reducing the national debt. It could save people from future economic crises.
Similarly, without fiscal expansion and the energy price guarantee, inflation will be higher and the recession deeper. Soon, interest rates are likely to rise and, according to analysts at Morgan Stanley, the borrowing cost for homes could hit 6%. Moreover, 40% of households struggle every year to pay their mortgage in addition to higher utility bills.
Final Word
When the Conservative Party elected Sunak as their leader, many people experienced a sigh of relief. Sunak belongs to the elite private and privileged class and still has long-term views when it comes to the UK economy; that’s what the peak need of Britain is right now.
Even after electing as UK Prime Minister, Sunak has a long way to go ahead in his tenure. His winning membership as a Prime Minister was safe as he won 71 seat majority in a 650-seat parliament. But Conservatives lost confidence, and he has to build it again. And now, “It unites or dies”, he told his divided lawmakers shortly after the announcement. Every eye in the world is on him and waiting to see the charisma of the British Empire in the world once again. We hope you enjoyed reading interesting facts about UK Prime Minister Rishi Sunak.
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