Who is new chancellor Rishi Sunak? | Politics News

Britain's Chief Secretary to the Treasury Rishi Sunak arrives at 10 Downing Street in central London on February 13, 2020 as the prime minister reshuffles his team. - Britain's prime minister revamped his top team on February 13 in his first cabinet reshuffle since taking Britain out of the European Union. (Photo by Tolga AKMEN / AFP) (Photo by TOLGA AKMEN/AFP via Getty Images)

Rishi Sunak has change into the 42nd chancellor of the exchequer for the reason that flip of the 20th century.

He’s in all probability the richest MP within the Home of Commons and is married to Akshata Murthy, the daughter of an Indian billionaire.

Her father, N.R.Narayana Murthy, is the co-founder of Indian know-how large Infosys.

Mr Sunak’s grandparents had been born in Punjab, India and emigrated to Britain by way of East Africa within the 1960s.

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His father was a GP whereas his mom was a pharmacist.

Born in Southampton because the eldest of three siblings, Mr Sunak was despatched to England’s oldest public faculty, Winchester Faculty, the place he turned the primary Indian-origin headboy.

His expertise on the historic boarding faculty was “intellectually remodeling” and put him “on a unique trajectory”, Mr Sunak has beforehand stated.

He went on to review philosophy, politics and economics at Lincoln Faculty on the College of Oxford, the place he obtained a first-class diploma.

After finishing an MBA from Stanford College, the place he met his future spouse, Mr Sunak went on to work for funding financial institution Goldman Sachs as an analyst.

He’s stated to have already had job affords from funding banks beneath his belt whereas nonetheless in his second 12 months at Oxford.

Mr Sunak moved to work for hedge funds in 2006 when he joined TCI, which is named a really aggressive fund.

Whereas he was there, TCI put stress on Dutch financial institution ABN Amro to interrupt itself up – the upshot of which was a disastrous bid for ABN Amro from an RBS-led consortium.

He left TCI in 2009 to co-found a brand new hedge fund.

N.R.Narayana Murthy with former Tory prime minister David Cameron in 2010
Mr Sunak’s father-in-law, N.R.Narayana Murthy, with former Tory prime minister David Cameron in 2010

Mr Sunak was chosen because the Conservative Celebration candidate within the Yorkshire seat of Richmond forward of the 2015 common election.

He was duly elected and changed ex-Tory chief William Hague because the constituency’s MP.

Mr Sunak, who has been dubbed the “Maharaja of the Yorkshire Dales”, has beforehand recalled being launched as “the brand new William Hague”, to which a Yorkshire farmer replied: “Ah sure Haguey!

“Good bloke. I like him. Bit pale, although. This one’s acquired a pleasant tan.”

Mr Sunak supported Brexit on the 2016 EU referendum and claimed the UK could be “freer, fairer and extra affluent” exterior the EU.

He was re-elected by native voters in each 2017 and 2019.

Following his final two election victories Mr Sunak, a Hindu, has taken his oath within the Home of Commons on the Bhagavad Gita.

He was first appointed to authorities by Theresa Might in January 2018 as a junior minister on the Ministry for Housing, Communities and Native Authorities.

Mr Sunak was promoted to Chief Secretary to the Treasury final July when Boris Johnson turned prime minister.

He had been an early backer of Mr Johnson’s marketing campaign to switch Mrs Might as Tory chief.

On the age of 39, he’s solely a 12 months older than George Osborne was when his predecessor took cost of the Treasury.

Mr Osborne was the youngest chancellor for greater than a century when he took workplace in 2010.

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