LONDON — Rishi Sunak, who resigned on Tuesday as Britain’s chancellor of the Exchequer, has been arguably probably the most distinguished determine in Prime Minister Boris Johnson’s cupboard, seen for a time as Mr. Johnson’s more than likely successor.
Mr. Sunak had a swift rise from his first election to Parliament in 2015. In February 2020, when he was 39 years previous, Mr. Johnson appointed him chancellor, the federal government’s chief monetary officer and sometimes second in energy solely to the prime minister.
Because the coronavirus disaster gripped the nation, Mr. Sunak, a former hedge fund supervisor, rolled out a sequence of help packages for companies and people that have been extensively applauded. These strikes, and his air of competence, shortly made him a preferred face of the federal government response.
Mr. Sunak, the eldest son of Indian immigrants, attended the elite Winchester School boarding college and Oxford. He earned his M.B.A. at Stanford and has been held up for example of a multiethnic and extra fashionable Britain.
However critics have additionally taken problem along with his dealing with of the nation’s funds, with the Nationwide Institute of Financial and Social Analysis assume tank saying final month that his failure to behave to insure towards rate of interest rises may price British taxpayers.
And in current months, two scandals have tarnished his fame, although by no means to the identical stage because the prime minister, and there was hypothesis that he could be pushed out throughout a possible cupboard reshuffle. First got here the revelation that his rich spouse had claimed a tax standing that allowed her to keep away from paying taxes on a few of her earnings. Then it was revealed that Mr. Sunak continued to carry a inexperienced card, permitting him to reside and work in the US for months after he turned chancellor.
Mr. Sunak, together with different authorities figures, was additionally fined for breaching coronavirus lockdown laws for briefly attending a birthday celebration for the prime minister in Downing Avenue in 2020, considered one of a sequence of gatherings at Downing Avenue, which turned referred to as the “partygate” scandal.