Who is our current Prime Minister Rishi Sunak?
Rishi Sunak was appointed as the UK’s Chancellor of the Exchequer in February 2020 following the resignation of Sajid Javid. He was later promoted to Prime Minister in July 2022, succeeding Boris Johnson. Born in Southampton in 1980 to Indian parents, Sunak grew up in Yorkshire and went on to graduate from Oxford University with a degree in Politics, Philosophy and Economics.
Sunak’s career began in investment banking, working for Goldman Sachs and The Children’s Investment Fund Management (TCI). In 2015, he entered politics, running for the Conservative Party in the constituency of Richmond in North Yorkshire. He won the seat with a majority of over 19,000 votes.
As Chancellor of the Exchequer, Sunak was responsible for overseeing the UK’s economy and finances. His early tenure was marked by the outbreak of the COVID-19 pandemic, which led to the government implementing a series of economic measures aimed at supporting businesses and individuals. Sunak’s approach included the Coronavirus Job Retention Scheme, which saw the government pay up to 80% of the wages of furloughed workers, and the Bounce Back Loan Scheme, which allowed small businesses to borrow up to £50,000. These policies were widely praised for their effectiveness in mitigating the economic impact of the pandemic.
Sunak is considered to be a proponent of free market economics and has been vocal in his support of reducing taxes and regulations on businesses. He is also known for his support of increased infrastructure spending, including the construction of new roads and railways.
As Prime Minister, Sunak has promised to continue his focus on economic growth, with plans to increase investment in technology and innovation. He has also pledged to invest in public services, such as healthcare and education, and to increase funding for arts and culture programs.
Sunak is married to Akshata Murthy, daughter of Indian billionaire Narayana Murthy. The couple has two daughters and they live in Northallerton, North Yorkshire.
Early life and education
Rishi Sunak was born on 12 May 1980 in Southampton to Yashvir and Usha Sunak, who had emigrated from India to the UK. Sunak grew up in the village of East Witton in North Yorkshire, where his father ran a pharmacy. He attended the Bishopsgate School in London before going on to study at Winchester College. After completing his A-levels, Sunak went on to study at Lincoln College, Oxford, where he graduated with a first-class degree in Politics, Philosophy and Economics.
Career in finance
In 2001, Sunak joined Goldman Sachs as an analyst in the bank’s London office. He later worked for The Children’s Investment Fund Management (TCI), a hedge fund run by billionaire Chris Hohn. During his time at TCI, Sunak was involved in a successful campaign to increase the dividend payout of Dutch bank ABN Amro.
Entry into politics
Sunak was chosen as the Conservative candidate for Richmond in North Yorkshire in 2015, following the retirement of the incumbent MP. He won the seat with a majority of over 19,000 votes.
During his time in parliament, Sunak served on the Environment, Food and Rural Affairs Select Committee and the Treasury Select Committee. He was also appointed as a Parliamentary Under-Secretary of State at the Department for Business, Energy and Industrial Strategy in 2017, where he was responsible for overseeing the government’s policy on small business and energy.
Chancellor of the Exchequer
Sunak was appointed as Chancellor of the Exchequer in February 2020, following the resignation of Sajid Javid. Shortly after his appointment, the COVID-19 pandemic began to spread across the UK, leading to the implementation of a nationwide lockdown.
In response to the pandemic, Sunak announced a series of economic measures to support businesses and individuals. These included the Coronavirus Job Retention Scheme, which saw the government pay up to 80% of the wages of furloughed workers, and the Bounce Back Loan Scheme, which allowed small businesses to borrow up to £50,000. Sunak’s policies have been widely praised for their effectiveness in preventing a large-scale economic downturn.
Sunak succeeded Boris Johnson as Prime Minister in July 2022, following Johnson’s resignation. He has promised to continue his focus on economic growth and job creation, with plans to increase investment in technology and innovation. Sunak has also promised to invest in public services, such as healthcare and education, and to increase funding for arts and culture programs.
In conclusion, Rishi Sunak has had a varied career, from investment banking to politics. As a proponent of free market economics, he has focused on reducing taxes and regulations on businesses while advocating for increased infrastructure spending. Sunak’s effectiveness in responding to the COVID-19 pandemic has led to his popularity among the British public. As Prime Minister, he has promised to continue his focus on job creation and economic growth while increasing support for public services and the arts.