Who is Rishi Sunak? Rishi Sunak, a British politician who was born in India and is thought to be the frontrunner for Prime Minister, is being criticized for being in two boats. On the one hand, the Chancellor of the Exchequer supports Prime Minister Boris Johnson, but on the other, he wants to take over from him.
Since February 2020, the 41-year-old has been the Chancellor of the Exchequer. Since 2015, he has also been the MP for Richmond (Yorks) in North Yorkshire. He was the Chief Secretary to the Treasury before, from 2019 to 2020.
Rishi Sunak Biography: Birth, Age, and Parents
Rishi Sunak was born on May 12, 1980, in Southampton, Hampshire, South East England. His Indian parents, Yashvir and Usha Sunak, were both born in Kenya and Tanzania. His father was a family doctor, and his mother ran a local pharmacy as a pharmacist.
Sunak’s grandparents were born in Punjab Province, which was part of British India. In the 1960s, they left East Africa and moved to the UK. Sunak is the oldest of three brothers and sisters. His brother Sanjay is a psychologist, and his sister Rakhi works at the Foreign, Commonwealth, and Development Office as the Head of Humanitarian, Peacebuilding, UN Funds and Programs.
Rishi Sunak Education
He attended Winchester College, Lincoln College, Oxford University, and Stanford University, and he graduated from all four of those institutions. While he was on vacation over the summer, Sunak worked as a waiter at a curry restaurant in Southampton.
Rishi Sunak’s Business Career
During his time at college, he did an internship at the Conservative Campaign Headquarters. From 2001 to 2004, he was an analyst at the investment bank Goldman Sachs. He quit his job to work for The Children’s Investment Fund Management (TCI). In September 2006, he was made a partner there. In 2009, he joined another hedge fund company called Theleme Partners. He was also the director of N. R. Narayana Murthy’s investment company, Catamaran Ventures, which was owned by his father-in-law.
Rishi Sunak’s Political Career
In 2014, he ran for William Hague’s old seat in Richmond (Yorks). Over 100 years, the Conservatives have held the seat. In that year, he led Policy Exchange’s BME Research Unit and co-wrote a report on BME communities in the UK. He was elected from Richmond in 2015. (Yorks). Served on the Environment, Food, and Rural Affairs Select Committee from 2015 to 2017.
2016 EU referendum supporter. He also supported free ports after Brexit for the Centre for Policy Studies and advocated for a retail bond market for SMEs the following year. He was re-elected as MP in 2017. From January 2018 to July 2019, he was Undersecretary. He endorsed PM Boris Johnson in the 2019 Conservative Party leadership contest and co-wrote an article for Johnson in June 2019.
Sunak was re-elected in the 2019 General Election and named Treasury Chief Secretary by Prime Minister Boris Johnson in July 2019. On July 25, 2019, he joined the Privy Council. Sunak became Chancellor of the Exchequer in February 2020. Sunak delivered his first budget on 11 March 2020, during COVID-19. Sunak announced £30 billion in additional funding, of which £12 billion was for mitigating the COVID-19 pandemic’s economic impact.
On 17 March 2020, he announced £330 billion in emergency company support and staff salary subsidies. Three days later, he revealed the employment retention scheme but faced outrage because 100,000 workers weren’t eligible. The program was extended through 2021.
Sunak launched the £30 billion Eat Out to Help Out Scheme to create hospitality jobs. Food and drinks at participating cafés, bars, and restaurants are 50% subsidized, up to £10 per person. Monday-Wednesday from 3 to 31 August 2020. Others disagree that the initiative was successful because it subsidized £849 million in lunches. The scheme increased COVID-19 infections by 8 to 17%, according to a University of Warwick study. Sunak said in his March 2021 budget that the deficit had reached £355 billion, the biggest in peacetime. He raised the company tax from 19 to 25% in 2023 and froze the personal allowance and higher income tax level for five years.