Following Liz Truss’ departure after 45 days in office, the UK is experiencing its most recent political crisis. Rishi Sunak, the former finance minister, has become the country’s leader. The 42-year-old has become the country’s first prime leader of Indian descent.
A pricey effort to keep jobs and prevent mass unemployment in the COVID-19 economic rescue package, which Sunak received plaudits for. Sunak was criticised for not giving households enough assistance with the cost of living. He suffered from revelations regarding his affluent wife’s non-domicile tax status and a fine he and Johnson received for breaking the COVID lockdown regulations.
Rishi Sunak: Who is he?
Born in the Southhampton region of the United Kingdom to Indian parents, Rishi Sunak grew up in an Indian household. His father is an NHS-employed medical practitioner (GP). His paternal grandparents are Punjabi.
Sources claim that the family of Rishi Sunak prime minister initially immigrated to East Africa in quest of a better life. Still, when instability broke out due to anti-Indian solid sentiments, his grandpa transferred his family’s headquarters to Britain.
Sunak became well-known for his financial support of workers and businesses during the COVID-19 epidemic. This support included a job retention scheme that prevented widespread unemployment in the UK.
UK Prime Minister’s Initial Innings in UK Politics
Sunak was elected as a Member of Parliament (MP) for the first time in Richmond, Yorkshire, in 2015. After joining the Conservative party, he championed the “Brexit” campaign. Sunak participated in and backed Johnson’s “leave EU” campaign. He made history when he was appointed Chancellor of the Exchequer, the most critical position in the UK Cabinet, in February 2020.
What Problems Does the Current Prime Minister of England Face Right Away?
With the nation experiencing an economically toxic combination of a recession and rising interest rates, Sunak is currently dealing with political and economic issues. His predecessor Truss’ economic plan has agitated financial markets, increased living expenses for voters, and infuriated a large portion of her party and the general public.
Although the Bank of England was compelled to engage in emergency bond purchases to prevent a sharp sell-off in the $2.3 trillion British government bond market, the damage has already been done. These emergency purchases included a costly energy price guarantee and billions of pounds in unfunded tax cuts.
He told Conservative legislators that bringing about economic stability and party unity is his top goal. Despite holding a sizable majority in parliament, the Conservative Party is split into essential topics, including immigration, Brexit, and economic policy.
A lot of speculation has been swirling in the UK media since Sunak became chancellor that he may run for prime minister. Rishi Sunak has become the first person of Indian descent to lead the nation and the party.