Sunak vows to follow Johnson’s agenda on economics and debt control

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Debt control and continue with the economic program of Boris Johnson. Are the first two promises of the new British Conservative Prime Minister, Rishi Sunak, in his public speech at the gates of number 10 Downing Street. pending to know the formation of his new government after making a direct nod to the markets committing itself to the UK borrowing it will not condition future generations after the turmoil caused by its predecessor Liz Truss, of whom she assures that she was not mistaken in her attempt to want to have growth, but she did make mistakes by advocating large tax cuts without detailing how the debt would be reduced, which that sowed chaos in the financial markets. Sunak assured that the priority of her Government will be “economic stability” and restore “confidence” in the United Kingdom and warned that they are coming “difficult decisions”.

Sunak addressed the nation from the gates of his official residence at 10 Downing Street after receive the commission to form an Executive of King Carlos III, who previously accepted the resignation of the outgoing prime minister at Buckingham Palace. The 42-year-old leader and the first Hindu to hold the post, inherits a divided Conservative Party, the economy on the brink of recession and conflict with the European Union over Northern Ireland’s Brexit protocol.

“Right now, our country is facing a deep economic crisis,” Sunak said, with eserious expression, to add that, when looking for solutions, he will show “compassion”, as he did, he pointed out, when introducing the employment protection program when he was economy minister during the pandemic. “The government that he leads will not leave the next generation, their children and grandchildren, a debt that we were too weak to pay ourselves,” he said.

Sunak said that will unite his party and the country “not with words but with actions” and promised to work “day after day” to comply with the citizens, who, however, have not had the opportunity to vote for him in general elections. “This government will have integrity, professionalism and accountability at every level,” the new prime minister said, in an effort to distance himself from the mandates of his two predecessors, Boris Johnson and Truss, to whom he nonetheless paid tribute.

Sunak assured that don’t feel “intimidated” for the challenge he faces and maintained that he will respect the promises made in the electoral manifesto with which Johnson won an absolute majority in 2019. “I am aware of the high position that I have accepted and I hope to live up to its demands. When the opportunity to serve, you can’t question the moment, only your willingness,” he said. Sunak added that he will guide the country “towards the future”putting the national interest “above politics.”

Inauguration

Sunak has become this Tuesday in the first leader of the Conservative Party and head of the non-white Hindu UK government, the first from an ethnic minority since Benjamin Disraeli in the 19th century, the youngest for more than 200 years, and currently the richest Member of Parliament. With a career in the financial sector and as a former Minister of the Economy, his strong point is numbers – he supported Brexit by judging that the recovery of sovereignty was “a good long-term investment” – but little is known about his ideology or his ability to empathize with the electorate.

With a personal fortune with his wifethe indian heiress Akshata Murtyestimated at 730 million pounds (841 million euros)will be challenged to connect with working-class Conservative voters and Britons in general ahead of the next general election, scheduled for 2024. With only seven years as an MP, his lack of political experience, especially with a deeply divided Conservative Party and some MPs resentful of their role in the downfall of former Prime Minister Boris Johnson.

meteoric career

Arriving at Downing Street, in the middle of the Indian festival of Divali -of great relevance to him-, Sunak culminates a meteoric career today that began when in 2015 he won his seat in the House of Commons. The 42-year-old politician came second in the previous internal party elections to succeed Johnson, who was won on September 6 by Liz Truss, whose resignation has allowed her to gain power.

After a lucrative stage in the financial sectorSunak was elected MP for Richmond, in the English county of North Yorkshire, in 2015, and began to stand out on the right wing of the Conservatives with his support for Brexit in the 2016 referendum. Thanks to this, he was appointed by Johnson Chief Secretary of the Treasury on July 24, 2019 and promoted to Minister of Economy on February 13, 2020, replacing Sajid Javid. His resignation on July 5 precipitated the fall of his boss, which strained relations between the two.

during his stage in front of the public treasury, was praised for his employment protection plan during the pandemic but was criticized for insufficient aid to citizens in the face of rampant inflation and a tax increase that he later partially reversed due to pressure from his colleagues. His proposal now as head of the Executive is to raise taxes to control inflation and grow the economy with measures yet to be specified, in a return to the fiscal conservatism absent in the plan of his predecessor.

Before entering politics, Sunak held positions at several financial firms, including the investment bank Goldman Sachs and the venture capital fund The children’s investment Fund Management. In 2010 he joined another fund manager, Theleme Partners, and was a director of Catamaran Ventures, owned by his father-in-law, Indian millionaire NR Narayana Murthy.

Personal image

Although relatively unknown to the general public, Sunak’s image suffered a setback last April when he was fined along with Johnson for participating in one of the parties that violated the anticovid regulations in the Downing Street offices, for which he apologized, although he always defended that he was only passing through. That same month it criticized his wife’s tax arrangementswhich until then benefited from “non-domiciled” tax status, which allowed it not to pay UK tax on dividends from its foreign investments.

Raised in the city of Southampton (South English), Rishi Sunak, of Hindu religion, is the son of Yashvir, who was a doctor, and Usha Sunak, a pharmacist, and the grandson of immigrants from the Indian region of Punjab, who came to the United Kingdom in the 1960s from East Africa. The eldest of three brothers, he was educated at the elite Winchester private school and, as is typical among the political class of this country, he graduated in Philosophy, Politics and Economics (PPE, in English) from the English University of Oxford.

He completed his studies with a master’s degree in Business Administration at the American University of Stanford -which he accessed with a Fulbright scholarship-, where he met his wife, mother of his two girls and daughter of the co-founder of the multinational Infosys. Sunak, who presents himself as a dynamic politician inspired by the creativity of the American Silicon Valley, has confessed that he is addicted to Coca-Cola and a super fan of Star Wars.

Source: lainformacion.com

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