An expert in finance and economics, Rishi Sunak’s campaign focused essentially on one issue: the worsening state of the UK economy and a plan to address this problem.
During the dispute, Rishi Sunak told the BBC that he would rather lose the race for the Conservative leadership than “win with a false promise”. The motto was to fix the “deep economic crisis” and “to unite the party”.
With the election of Liz Truss, Sunak moved away from politics and refused to comment on the turmoil that marked the Prime Minister’s government.
MINISTER OF FINANCE DURING PANDEMIC
It was presented to the public in February 2020 and within a few weeks had to guide the UK economy when the pandemic and restrictions triggered.
At the time, as finance minister, he pledged to do everything in his power to help people and put forward £350 billion in support.
But he fell out of favor with the militants, notably because of his increased contribution to Social Security to finance heavy spending on health and welfare, and for having played an influential role in the precipitous downfall of Boris Johnson.
Still, the UK continued to be hit by stormy weather on Downing Street as Sunak had to deal with the fallout of being fined by the police for violating Covid-19 restrictions.
In April, some conservative critics questioned whether the minister was aware of the consequences of the rising cost of living, which was affecting several families. In addition, Sunak’s finances and his own family came under intense scrutiny that month.
The Independent newspaper suggested that Sunak had already benefited from tax havens in the British Virgin Islands and the Cayman Islands in 2020.
Sunak is the richest prime minister, with a family fortune of around £730m, according to the Independent.
During his first election campaign, Sunak positioned himself as a candidate who does not hide hard truths about the state of public finances.
‘FIRST’ NON-WHITE PRIME MINISTER IN BRITISH HISTORY
A descendant of Indians and a practicing Hindu, former British finance minister Rishi Sunak will become, on the second attempt, the UK’s first non-white head of government and the youngest in decades.
The 42-year-old politician was declared leader of the Conservative Party, unopposed after the withdrawal of Penny Mordaunt and former Prime Minister Boris Johnson, and is expected to be appointed head of government in the coming hours.
The rise to the post less than two months after being defeated by Liz Truss in the Conservative Party leadership election is equally surprising and ironic.
The outgoing prime minister resigned on Thursday after trying to implement an economic program that Sunak warned would be “irresponsible” because it would increase public debt, worsening inflation and interest rates, which came to pass.
RISHI SUNAK SUMMONS HUMBLE ORIGINS
Sunak and his wife Akshata Murty, daughter of an Indian tycoon co-founder of the multinational Infosys, entered this year to the 222nd position of the list of the richest of the Sunday Times newspaper.
But the former financial analyst has invoked the humble beginnings of his immigrant grandparents, who arrived in Britain in the 1960s, and his parents, a doctor and pharmacist who worked to give their children a good education and opportunities.
Britons should judge him “on his personality and actions, not his bank account,” he argued several times during the summer campaign.
OXFORD STUDENT WHO WORKED FOR GOLDMAN SACHS
Born on May 12, 1980 in the English city of Southampton, Rishi Sunak is the eldest of three siblings. After graduating in Philosophy, Politics and Economics (PPE) at Oxford, he completed his studies with an MBA at Stanford University in the USA, where he met his wife.
The couple have two daughters, Krishna and Anoushka, aged 11 and nine, respectively.
After working for investment bank Goldman Sachs and other financial institutions, Sunak entered politics, standing out as a staunch supporter of the United Kingdom’s exit from the European Union.
METEORIC RISE AFTER BREXIT CAMPAIGN
In 2015, he was elected MP for the Richmond constituency in the county of Yorkshire, in the north of England, an essentially rural and traditionally conservative region that was previously represented by the ‘Tory’ leader William Hague.
He has since enjoyed a meteoric rise due to his active involvement in the 2016 Brexit campaign, including representing Boris Johnson in several televised debates in the 2019 legislative elections.
In his resignation letter on July 5, Sunak claimed that principles of good conduct “matter” and distanced himself from the then prime minister’s lack of “seriousness and competence”.
In both the election he lost to Liz Truss and the one that ended today, he was the candidate with the most votes among Conservative MPs.
But even after the economic turmoil of recent months has shown that he was right in his prudent approach to the economy, Sunak continues to divide opinion and many of the activists accuse him of “betraying” and “stabbing in the accounts” the popular Boris Johnson.
Source: With Agencies