Who is Rishi Sunak? The New UK Chancellor of the Exchequer
Rishi Sunak was appointed the new Chancellor of the Exchequer by Theresa May after Philip Hammond resigned from his position on May 24th, 2019. You may have seen him on news programs, or read about him in the newspapers over the past few days, but who exactly is Rishi Sunak? He’s not just a name in the newspapers - here’s your chance to find out more about this man and why he was given such an important position by the British Prime Minister.
Early Life and Education
Rishi Sunak was born in London to Indian immigrants, Lakshmi and Gurmail. Growing up, he attended Eton College, a prestigious boarding school where he studied mathematics and economics. He then went on to attend Oxford University, where he received his Master's degree in Philosophy Politics and Economics. After graduation, he became a consultant at McKinsey & Company before going back to school and receiving his MBA from Harvard Business School in 2013.
Career & Political life
Rishi Sunak was appointed as Minister for Housing, Communities and Local Government in July 2019. Prior to this he served as Member of Parliament for Richmond (Yorks) from 2017-2019 and as Economic Secretary to HM Treasury from 2015-2017. He has also been a Special Adviser at Number 10 Downing Street, where he worked closely with David Cameron. Prior to this, he practiced law at Fresh fields Bruckhaus Deringer LLP in London and New York. He has also been an investment banker at Morgan Stanley and UBS Investment Bank in London, Zurich, Hong Kong and Singapore.
Personal Life & Views
Rishi Sunak was born in Bangladesh, but moved to the UK at age 11. He studied Economics at Oxford University and spent a year teaching in India before returning to London and taking up a position as an economic consultant with PricewaterhouseCoopers. He then served as Director of Policy Exchange, a think tank, from 2007-2010. In 2010, he became an adviser to George Osborne, Britain's former finance minister who went on to serve as Prime Minister from 2016-2019. Mr. Sunak also served as an adviser to former Prime Minister David Cameron during his campaign for reelection in 2015.
Net Worth
Rishi Sunak was born in Leeds, England on May 27th, 1973. He attended Oxford University and got his B.A. in PPE (Philosophy, Politics and Economics). He then went on to get his M.A., M Phil and D Phil (Master’s degree, Master’s degree in Philosophy) from University College Dublin. His PhD dissertation was titled Political Authority and Political Obligation: A Study of Locke, Hobbes and Kant.
Controversies & Criticism
Rishi Sunak's appointment as chancellor of the exchequer has been met with criticism and controversy. Critics, such as Labour Party MP John McDonnell, say that it is not an appropriate appointment for a non-MP to hold this position. They argue that this will further skew the balance between parliament and executive power and will reduce parliament's ability to effectively scrutinize legislation. However, others have hailed his inclusion in Prime Minister Theresa May's cabinet as a step towards ensuring more diversity in Britain's top institutions.
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