UK prime minister

Sunak is the first person of colour to take the top post. But he faces a host of problems at home, as well as a Conservative Party tearing itself apart.

The party is behaving like one that has only the slimmest of majorities and is on its way out. Sunak’s premiership may well be a case of the band playing on. This issue has weakened the centre left for a couple of decades. But this may only prolong the pain and defer a significant loss of seats whenever the next election arrives. Now such divisions seem to be affecting the right of politics too. How Sunak manages this coming “ [winter of discontent](https://academic.oup.com/liverpool-scholarship-online/book/43198)” will define his premiership. His legitimacy with the electorate is not as strong as it could be given that he is the third Conservative leader and PM since the last election in 2019. The Conservatives are seen as a party of – and for – the wealthy. It has not lived up to the over-inflated expectations of its most ardent boosters. The cost of living and energy crises will be the foremost political and economic challenges, but the B-word (Brexit) still casts a shadow. This will matter for perceptions of the new PM among the wider electorate. Much of the credit can go to David Cameron’s attempts to modernise the Conservative party in the mid-2000s.

The U.K.'s new prime minister and his wife, the daughter of an Indian tech billionaire, have a collective net worth higher than the personal fortune of King ...

[she confirmed in April](https://www.bbc.com/news/uk-politics-61027058) that she had “non-domicile” status in the U.K.—allowing her to avoid dividend and capital gains taxes in Britain. Born in Southampton to parents of Indian descent who emigrated from East Africa, Sunak attended the exclusive Winchester College boarding school and waited tables at an Indian restaurant during summer breaks. Through a spokeswoman, Murthy told the BBC that she paid about $34,000 a year to maintain that status, a fee charged if a person has lived in the U.K. Murthy is also a director at and owns a small stake in boutique gym chain Digme Fitness, which was hard-hit by the Covid-19 pandemic and was Altogether, Forbes estimates Sunak and his wife Murthy are worth roughly $810 million—more than a quarter of a billion dollars richer than the [$500 million personal fortune of King Charles III](https://www.forbes.com/sites/giacomotognini/2022/09/15/how-rich-is-king-charles-iii-inside-the-new-monarchs-outrageous-fortune/). Murthy’s firm was also [reportedly an early investor](https://www.bloomberg.com/news/articles/2022-05-30/rishi-sunak-s-wife-akshata-murty-builds-catamaran-ventures-ties-to-rich-families#xj4y7vzkg) in dara5, a private investment company established by a member of Qatar's ruling family. As an Indian citizen, Murthy is a tax resident of her home country and Murthy drew scrutiny for her tax status earlier this year, when Sunak served as Chancellor of the Exchequer—Britain's finance minister and the No. [contest for leadership of the Conservative Party,](https://www.forbes.com/sites/roberthart/2022/10/24/rishi-sunak-selected-as-britains-next-prime-minister-heres-what-to-know/?sh=35780cd37691) Rishi Sunak is set to become the United Kingdom’s next prime minister. Besides her stake in Infosys, she owns Catamaran Ventures UK, the British branch of her father’s venture capital and private equity firm. [reportedly spending](https://www.standard.co.uk/homesandproperty/celebrity-homes/rishi-sunak-luxury-property-portfolio-b993765.html) $450,000 to install a leisure center with a 40-foot swimming pool, a gym and an outdoor tennis court. Narayana Murthy](https://www.forbes.com/profile/nr-narayana-murthy/), the cofounder and retired chairman of Indian tech giant Infosys, whose net worth is estimated by Forbes at $4.5 billion.

and welcoming the accession of His Majesty King Charles III. In just a short period, this government has acted urgently and decisively on the side of ...

It is because we do not dare that they are difficult.” I look forward to spending more time in my constituency, and continuing to serve South West Norfolk from the backbenches. and I wish Rishi Sunak every success, for the good of our country. And we must continue to strengthen our nation’s defences. We must be able to outcompete autocratic regimes, where power lies in the hands of a few. From my time as Prime Minister, I am more convinced than ever we need to be bold and confront the challenges that we face.

Rishi Sunak, a former finance minister and hedge-fund manager, comes to office with some of the harshest economic headwinds Britain has faced in a ...

He called for “stability and unity” — the opposite of the tumult and divisions that characterized Truss’s tenure. Labour Party lawmaker Angela Rayner decried Sunak’s accession as a coronation and that the Tories could not “keep doling out prime ministers every month.” Labour leader He will also seek to unite his warring and unpopular Conservative Party, which, he warned, must “unite or die.” She closed with: “We continue to battle through a storm but I believe in Britain, I believe in the British people and I know that brighter days lie ahead.” The contest to replace Truss was wrapped up surprisingly fast — it was less than a week ago that she resigned. Tory grandee Iain Duncan Smith, a former leader of the Conservative Party, told LBC radio that Johnson found himself “struggling and begging people for votes. Then she was driven by motorcade to Buckingham Palace, and she resigned in person to the new king, Charles III. The incoming prime minister Sunak followed — and Charles asked him to form a new government. As the Roman philosopher Seneca wrote, ‘it is not that things are difficult that we do not dare, it’s because we do not dare, that it is difficult.’ ” She stumbled somewhat over Seneca’s name. “It means lower taxes so people can keep more of the money they earn. “We need to take advantage of our Brexit freedoms to do things differently. “From my time as prime minister, I am more convinced than ever that we need to be bold and confront the challenges we face.

Outgoing PM tells successor he should continue cutting taxes and keep planned rise in defence spending.

The outgoing prime minister said she was “more convinced than ever we need to be bold and confront the challenges we face” – saying she still believed in lower taxes and strengthening the nation’s defences. Flanked by her aides and supporters on one side and husband and two children on the other, Truss wished Sunak “every success” before she was whisked away in a car to Buckingham Palace to formally tender her resignation to the king. [Rishi Sunak](https://www.theguardian.com/politics/rishi-sunak), to “be bold” as she laid down the gauntlet by suggesting he should continue cutting taxes and keep the planned rise in defence spending.

Rishi Sunak on Tuesday became Britain's third prime minister in the space of two months after King Charles invited him to form a government. Sunak has arrived ...

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