U.K. to Create Thousands of High-Paid Jobs in Virus Recovery Plan: Johnson

U.K. Prime Minister Boris Johnson on Tuesday pledged to invest 14 billion UK pounds (17.2 billion US dollars) in Britain’s primary and secondary education sector, and repeated his election promise to build 40 new hospitals following the coronavirus pandemic. Johnson made the announcement during a speech at a college in Dudley in the West Midlands, … Read more U.K. to Create Thousands of High-Paid Jobs in Virus Recovery Plan: Johnson

Pelosi: Trump Admin. Trying to Kill Obamacare During Pandemic is ‘Unfathomable’

Speaker Pelosi calls Trump administration’s effort to overturn the Affordable Care Act during a pandemic “unfathomable.” Elsewhere: Texas ordered bars to close by noon Friday and Florida reported a record number of new cases as the U.S. copes with a worsening virus outbreak, mostly in Sun Belt states whose governors were quick to reopen businesses … Read more Pelosi: Trump Admin. Trying to Kill Obamacare During Pandemic is ‘Unfathomable’

Government signals intention to relax 2 metre distancing rule – BBC News

The Chancellor, Rishi Sunak has said the government is to announce in the coming week its decision on whether to relax the 2 metre social distancing rule in England. Boris Johnson is facing pressure from his backbenchers and the hospitality industry to ease restrictions in order to help businesses. However the government’s scientific advisers say … Read more Government signals intention to relax 2 metre distancing rule – BBC News

Chancellor Rishi Sunak drops hint 2m rule will be relaxed as pubs prepare to open | ITV News

The two-metre rule in England could be relaxed after Chancellor Rishi Sunak said the PM’s review “will make an enormous difference” to businesses. Boris Johnson is expected to make an announcement next week on pubs, cafes, restaurants and hotels. • Subscribe to ITV News on YouTube: http://bit.ly/2lOHmNj • Get breaking news and more stories at … Read more Chancellor Rishi Sunak drops hint 2m rule will be relaxed as pubs prepare to open | ITV News

Chancellor hints two-metre rule will be relaxed next week

Chancellor Rishi Sunak has given a major hint that current two-metre distancing guidelines will be relaxed when the Government publishes the findings of a review next week. “The outcome of that review will be announced this week, obviously that’s something that will make an enormous difference I think to many businesses who are keen to … Read more Chancellor hints two-metre rule will be relaxed next week

‘Margin for manoeuvre’ on two-metre rule, says Boris Johnson | ITV News

The falling numbers of coronavirus cases has given the Government “more margin for manoeuvre” in easing the two-metre social-distancing rule, Boris Johnson has said. The Prime Minister, who has ordered a “comprehensive” review of the regulation in England, said “probably” fewer than one in 1,000 people now had the virus, meaning the chances of coming … Read more ‘Margin for manoeuvre’ on two-metre rule, says Boris Johnson | ITV News

Sunak MP: ‘Real change doesn’t come from wanton destruction’

The Chancellor Rishi Sunak MP speaks about racist incidents he has personally experienced, whether he would want to be the next Tory leader, and the protests in London.   SUBSCRIBE to our YouTube channel for more videos: http://www.youtube.com/skynews     Follow us on Twitter: https://twitter.com/skynews      Like us on Facebook: https://www.facebook.com/skynews     Follow us on … Read more Sunak MP: ‘Real change doesn’t come from wanton destruction’

Official data: UK economy down 20.4% in April, largest-ever monthly decline

Official data show Britain’s GDP in April saw the sharpest monthly decline, ever. Chancellor of the Exchequer Rishi Sunak says the economy shrank by over 20 percent. The UK was under lockdown the entire month. Government measures, including tax cuts, have given the economy the best chance to recover after reopening. The country’s outbreak is … Read more Official data: UK economy down 20.4% in April, largest-ever monthly decline

Exclusive: Chancellor Rishi Sunak says ‘racism exists in the UK’

Chancellor Rishi Sunak has told Sky News that he has suffered racist abuse which ‘stings in a way that very few other things have’. SUBSCRIBE to our YouTube channel for more videos: http://www.youtube.com/skynews Follow us on Twitter: https://twitter.com/skynews Like us on Facebook: https://www.facebook.com/skynews Follow us on Instagram: https://www.instagram.com/skynews For more content go to http://news.sky.com and … Read more Exclusive: Chancellor Rishi Sunak says ‘racism exists in the UK’

Coronavirus: what is happening to the UK furlough scheme?

Chancellor Rishi Sunak has extended the UK government’s Job Retention Scheme and will also boost financial help for the self-employed — a support package that could cost nearly £100bn in total. However, there are conditions attached to his largesse. Join our live Q&A with the FT’s personal finance editor Claer Barrett and executive news editor … Read more Coronavirus: what is happening to the UK furlough scheme?

Chancellor Rishi Sunak visits outdoor market as businesses reopen following coronavirus lockdown

As part of the easing of lockdown restrictions outdoor markets and car showrooms in England will be allowed to open, as long as social distancing rules are observed. Chancellor Rishi Sunak today visited an outdoor market in London and urged the British public to do the same. He said that today was the first step … Read more Chancellor Rishi Sunak visits outdoor market as businesses reopen following coronavirus lockdown

Scrap Bank of England inflation target to focus on GDP growth, says Jim O’Neill | CoronaNomics

The Telegraph’s economics reporter Lizzy Burden interviews Jim O’Neill, former Treasury minister. One of Britain’s most prominent economists has urged Rishi Sunak to scrap the Bank of England’s inflation target to make economic growth its primary goal as Britain attempts a recovery from the pandemic. Lord Jim O’Neill, a former Treasury minister who is understood … Read more Scrap Bank of England inflation target to focus on GDP growth, says Jim O’Neill | CoronaNomics

Chancellor extends scheme supporting UK’s self-employed through the coronavirus crisis | ITV News

Rishi Sunak announced that the furlough scheme, unprecedented in its scale and cost, and aimed at saving millions of jobs as the lockdown was imposed, is to be slowly wound down. From August, employers will be asked to share the burden borne by the government to pay workers’ salaries – and it will come to … Read more Chancellor extends scheme supporting UK’s self-employed through the coronavirus crisis | ITV News

Scheme paying millions of salaries extended to October by Chancellor – BBC News

The Government will continue to spend billions of pounds on the furlough scheme, paying the salaries of millions of workers for months to come. The Chancellor Rishi Sunak has promised to protect the jobs of those furloughed by their employers until October. Mr Sunak said the scheme, introduced to prevent mass redundancies, will need to … Read more Scheme paying millions of salaries extended to October by Chancellor – BBC News

Rishi Sunak Quick Links

Rishi Sunak Brief Biography

Rishi Sunak (born 12 May 1980) is a British Conservative Party politician currently serving as Chancellor of the Exchequer, since February 2020.

He was appointed after the resignation of Sajid Javid during a cabinet reshuffle in 2020.

Sunak previously served as Chief Secretary to the Treasury under Javid from July 2019 to February 2020, and has been the Member of Parliament (MP) for Richmond (Yorks) since the 2015 general election.

Sunak was nominated as the Conservative candidate in Richmond (Yorks), then the safest seat in the United Kingdom, after the retirement of William Hague MP. At this time, he had never stood as a political candidate for any party, at any level of politics.

Born in Southampton, Hampshire to an Indian Punjabi family, Sunak studied at the fee-paying Winchester College. Sunak subsequently studied Philosophy, Politics and Economics (PPE) at Lincoln College, Oxford, and later gained an MBA from Stanford University as a Fulbright Scholar.

After graduating, Rishi Sunak worked for investment bank Goldman Sachs, and later as a partner at the hedge fund management firm The Children’s Investment Fund Management.

Early Life

Sunak was born on 12 May 1980 in Southampton, Hampshire to Yashvir and Usha Sunak.

His grandparents were born in Punjab, India and emigrated from East Africa to the UK in the 1960s.

His father Yashvir was a general practitioner (GP) and his mother Usha was a pharmacist who ran a local pharmacy.

He is the eldest of three siblings.

Education

Sunak was privately educated at Winchester College, an all-boys’ boarding school, where he was head boy.

He then studied PPE at Lincoln College, Oxford, graduating with a First in 2001.

In 2006, Sunak obtained an MBA from Stanford University, where he was a Fulbright scholar.

Business

Sunak worked as an analyst for investment bank Goldman Sachs between 2001 and 2004.

He then worked for hedge fund management firm The Children’s Investment Fund Management, becoming a partner in September 2006.

He left in November 2009 to join former colleagues at new hedge fund firm Theleme Partners, which launched in October 2010 with an initial $700 million.

Sunak was also a director of investment firm Catamaran Ventures, owned by his father-in-law, Indian businessman N. R. Narayana Murthy, the founder of Indian IT giant, Infosys.

Political career

Member of Parliament

Sunak was selected as the Conservative candidate for Richmond (Yorks) in October 2014. The seat had previously been held by former leader of the party and foreign secretary William Hague, who chose to stand down at the next general election. Sunak had almost no political experience at this time.

In the same year, he was the head of centre-right think tank Policy Exchange’s Black and Minority Ethnic (BME) Research Unit, for which he co-wrote a report on BME communities in the UK.

Polkicy Exchange was founded by prominent Conservative Party members, such as Michael Gove.

Sunak was elected as MP for the constituency in the 2015 general election with a majority of 19,550 (36.2%).

During the 2015–2017 parliament, Sunak was a member of the Environment, Food and Rural Affairs Select Committee.

He supported the UK leaving the European Union (EU) in the June 2016 membership referendum.

In the same year, he wrote a report for the Thatcherite think tank, the Centre for Policy Studies, supporting the establishment of free ports post-Brexit, and the following year wrote a report advocating for the creation of a retail bond market for small and medium-sized enterprises (SMEs).

Sunak was re-elected as MP in the 2017 general election, with an increased majority of 23,108 (40.5%).

He was Parliamentary Under-Secretary for Local Government between January 2018 and July 2019.

Sunak voted for then Prime Minister Theresa May’s Brexit withdrawal agreement and voted against a referendum on any withdrawal agreement. He supported Boris Johnson in the 2019 Conservative Party leadership election and co-wrote an article in The Times newspaper with fellow MPs Robert Jenrick, and Oliver Dowden to advocate for Johnson during the campaign in June.

He was re-elected in the 2019 general election with an increased majority of 27,210 (47.2%).

During the election campaign, Sunak represented the Conservatives in both the BBC’s and ITV’s seven-way election debates, after Boris Johnson refused to participate.

Chief Secretary to the Treasury

Sunak was appointed as Chief Secretary to the Treasury by Prime Minister Boris Johnson on 24 July 2019. He became a member of the Privy Council the next day.

Chancellor of the Exchequer

Sunak was promoted to Chancellor of the Exchequer on 13 February 2020 as part of a cabinet reshuffle, after the resignation of his predecessor Sajid Javid on the same day. Javid had resigned after being asked by Prime Minister Johnson to dismiss his advisers.

At this time, he had been an MP for fewer than five years.

First Budget as Chancellor

Sunak’s first budget took place on 11 March 2020. This included announcements of £30 billion of additional spending of which £12 billion was allocated for mitigation of the economic impact of the coronavirus pandemic.

Personal life

Sunak married Akshata Murthy, the daughter of Indian billionaire and co-founder of Infosys, N. R. Narayana Murthy, in August 2009. They met while studying at Stanford University and have two daughters.

Is Rishi Sunak Muslim?

Rishi Sunak is not muslim, he is a Hindu, and has taken his oath at the House of Commons on the Bhagavad Gita since 2017.