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Biography of Rishi Sunak: Indian-British politician Rishi Sunak is believed to be the frontrunner for the post of Prime Minister. He has been Chancellor of the Exchequer since February 2020 and MP for Richmond (Yorks) in North Yorkshire since 2015. He was also Chief Secretary to the Treasury from 2019 to 2020.

Let’s take a look at the life of Rishi Sunak.

Biography of Rishi Sunak

Birth May 12, 1980
Age 41 years
Parents

Yashvir Sunak (father)

Usha Sunak (mother)

Education

Winchester College

Lincoln College, Oxford

Stanford University

Spouse Akshata Murthy
Children Of them
Occupation

Politician

Businessman

Former investment analyst

Net value

£3.1 billion

Biography of Rishi Sunak: Birth, Age and Parents

Rishi Sunak was born on May 12, 1980 in Southampton, Hampshire, South East England, to Indian parents Yashvir and Usha Sunak, who were born in Kenya and Tanzania respectively. Her father was a general practitioner while her mother was a pharmacist and ran a local pharmacy.

Sunak’s grandparents were born in the Punjab province of British India and emigrated to the UK in the 1960s from East Africa. Sunak is the eldest of three siblings. Her brother Sanjay is a psychologist and her sister Rakhi works as the Head of Humanitarian Aid, Peacebuilding, United Nations 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 her summer vacation, Sunak served tables at a curry house in Southampton.

The business career of Rishi Sunak

He interned at Conservative campaign headquarters while at university. From 2001 to 2004, he worked as an analyst at Goldman Sachs, an investment bank. 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 investment firm Catamaran Ventures , owned by his father-in-law and businessman NR Narayana Murthy.

The political career of Rishi Sunak

In 2014 he was chosen as the Conservative candidate for Richmond (Yorks), a seat which had previously been held by William Hague. The seat has been held by the Conservative Party for over 100 years now. That year he led Policy Exchange’s Black and Minority Ethnic (BME) research unit and co-authored a report on BME communities in the UK.

In the 2015 general election, he was elected 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 creation 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 MP for 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 Party leadership election and even co-wrote an article in a UK national daily defending Johnson during the June 2019 campaign.

Sunak won re-election in the 2019 general election and was appointed Chief Secretary to the Treasury by Prime Minister Boris Johnson in July 2019 and served under Chancellor Sajid Javid. He became a member of the Privy Council on July 25, 2019.

After a cabinet reshuffle in February 2020, Sunak was promoted to Chancellor of the Exchequer.

Amid the COVID-19 pandemic, Sunak presented his first budget on March 11, 2020. As the pandemic created a financial impact, Sunak announced the £30 billion in additional spending of which £12 billion was allocated to mitigate the economic impact of COVID. -19 pandemic.

On March 17, 2020, he announced £330 billion in emergency business support and a wage subsidy scheme for employees. Three days later he announced the job retention scheme, but received severe backlash as around 100,000 people were ineligible. The scheme has been extended until September 30, 2021.

Sunak has unveiled the £30bn Eat Out to Help Out scheme to support and create jobs in the hospitality industry. Government subsidized food and non-alcoholic beverages at participating cafes, pubs and restaurants at 50% off, up to £10 per person. The offer was available from August 3 to 31, 2020, Monday to Wednesday. While some consider the scheme a success as it has subsidized £849million in meals, others disagree. A University of Warwick study found that the program 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. He raised corporation tax from 19% to 25% in 2023, a five-year freeze on the tax-free personal allowance and the higher-rate income tax threshold.

At the G7 summit in June 2021, a tax reform agreement was signed to establish a global minimum tax on multinationals and online tech companies. In October 2021, the OECD signed an agreement to join the tax reform plan.

In October 2021, it unveiled its third budget which included £5bn for health research and innovation and £3bn for teaching skills.

Wife of Rishi Sunak

Rishi Sunak married Akshata Murthy in August 2009. The couple have two daughters. His wife is the daughter of Indian billionaire NR Narayana Murthy and is a director of Catamaran Ventures. She also runs her own fashion brand and is among Britain’s richest women.

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