Skip to content
Search

Latest Stories

Rising star Sunak loses some of his shine

Rising star Sunak loses some of his shine

British chancellor of the exchequer Rishi Sunak is being accused of being out of touch with ordinary voters, in a sudden fall from grace just months after he was tipped as the next prime minister.

The star of the 41-year-old had been in ascendancy for his handling of public finances as the coronavirus pandemic devastated jobs and businesses.


But it has lost some of its lustre following a mini-budget on Wednesday which he said was designed to tackle cost-of-living pressures that are soaring.

At the same time, he is facing awkward questions about his billionaire wife and her father, whose company has had to play down its business ties in Russia.

Rishi Sunak denies family benefitting from Putin's regime in an interview Chancellor of the UK's Exchequer Rishi Sunak and his wife Akshata Murthy. (Photo by Tristan Fewings/Getty Images)

Sunak -- who has billed himself as a low-tax Conservative -- was branded a "fiscal illusionist" by a think-tank for claiming to cut taxes but allowing the overall tax burden to rise.

What he hailed as "the largest single personal tax cut in a decade" in fact set taxes on course to rise to their highest level as a fraction of national income since just after World War II.

Paul Johnson, head of the Institute for Fiscal Studies think-tank, said Sunak had done nothing to protect the poorest by increasing welfare payments in line with inflation.

"He continues, despite his rhetoric, to be a chancellor presiding over a very big increase in the tax burden," he told reporters on Thursday.

"What he did was not enough even to stop the expected tax burden rising yet further."

Sunak's headline policy was a cut in fuel duty by five pence (0.06 euro, $0.07) for a year.

But that reduction was immediately swallowed up by rising fuel costs attributed to market instability blamed on Russia's invasion of Ukraine.

The chancellor -- nicknamed "Dishy Rishi" because of his slick Instagram-ready profile -- was then photographed filling up a car at a supermarket petrol station.

But the car in question, a humble Kia Rio, did not belong to the wealthy former Goldman Sachs analyst, but had been borrowed from a supermarket employee.

He then appeared confused as to how to pay for the fuel and a can of soft drink at the check-out.

- Russia questions -

The fall-out from Wednesday has dogged Sunak, with unfavourable headlines even from normally supportive newspapers.

He has also had to fend off questions about his wider family.

On Thursday, he was grilled over his wife Akshata Murthy's share in the Indian IT giant, Infosys, which was co-founded by her father NR Narayana Murthy.

She owns a stake in the company worth around $1.0 billion, according to the company's disclosure to the stock exchange.

With Britain and others seeking to isolate Russia economically over its invasion of Ukraine, he was asked whether Infosys was also reducing its presence there.

"I have absolutely no idea because I have nothing to do with that company," an uncomfortable-looking Sunak told Sky News.

"I am an elected politician and I'm here to talk to you about what I am responsible for, my wife is not."

Infosys itself said it had committed $1.0 million towards relief efforts for victims of the war, saying it has "a small team of employees based out of Russia, that services some of our global clients, locally."

- Personal wealth -

Sunak's private wealth and the fortunes of his in-laws are more than likely to be used again as a weapon by his political opponents, particularly in financially straitened times.

He was once dubbed "the Maharajah of the Yorkshire Dales" in a magazine profile, in a reference to his rural constituency in northern England.

But his background is comparatively humble: his father was a doctor and mother a pharmacist, and he grew up in Southampton, on England's south coast.

He became the first person born in the 1980s to hold one of the top four jobs in British politics, after a career in finance and a first-class degree at Oxford University.

Sunak and Murthy married in 2009, in a relatively modest affair, but the reception was attended by around 1,000 guests including politicians, industrialists and cricketers.

Murthy's personal wealth has previously raised questions in the British media, with some of her reportedly lavish presents to her husband, including a £180 "smart mug" and £95 sliders, causing him embarrassment.

The couple, who have two daughters, own at least four properties, including a £7-million five-bedroom house in the swishy London district of Kensington. They also own a flat in Santa Monica, California -- and a photogenic dog called Nova.

Murthy dabbled in finance and marketing and in 2010 created her own fashion label.

More For You

“Cricketers sent me nude photos”: Anaya Bangar, Sanjay Bangar’s child, opens up on gender transition

Anaya also highlighted the issues of toxic masculinity and insecurity within the cricketing environment

Instagram/ anayabangar

“Cricketers sent me nude photos”: Anaya Bangar, Sanjay Bangar’s child, opens up on gender transition

Anaya Bangar, the child of former India cricketer and coach Sanjay Bangar, has shared her journey of gender transition, including hormone replacement therapy and gender reaffirming surgery. Previously known as Aryan, Anaya is currently based in Manchester, United Kingdom, and has spoken openly about the challenges she has faced, both personally and professionally, since coming out.

Anaya, an athlete and left-handed batter, once followed in her father’s footsteps by playing age-group cricket. She has represented clubs such as the Islam Gymkhana in India and the Hinckley Cricket Club in Leicestershire. However, she revealed that pursuing a cricket career after her gender reaffirming surgery has come with several hurdles.

Keep ReadingShow less
Keir Starmer

Starmer thanked Christians for their community work, including support through night shelters, youth clubs, toddler groups, family services, elderly care and chaplaincy. (Photo: Getty Images)

Starmer thanks Christians for community work in Easter message

PRIME MINISTER Keir Starmer extended Easter wishes to Christians across the UK, marking the end of Lent and the celebration of the resurrection of Jesus Christ.

In his Easter message, Starmer said the story of Easter is central to the Christian faith. He acknowledged Christians facing hardship, persecution or conflict globally who cannot celebrate freely.

Keep ReadingShow less
Ranveer Allahbadia says he lost reputation but gained perspective after ‘India’s Got Latent’ controversy

He admitted he is still recovering emotionally

Instagram/ ranveerallahbadia

Ranveer Allahbadia says he lost reputation but gained perspective after ‘India’s Got Latent’ controversy

Popular YouTuber and podcaster Ranveer Allahbadia has spoken publicly about the controversy surrounding his show India’s Got Latent. During a recent “Ask Me Anything” session on social media, Allahbadia addressed the impact the incident had on his personal and professional life, as well as how he is moving forward.

Responding to a fan’s question about what he had lost as a result of the controversy, Allahbadia listed a range of issues. “Health, money, opportunity, repute, mental health, peace, parents’ contentment and much more,” he wrote. Despite these challenges, he also described the period as one of growth and introspection, saying the experience led to “transformation, spiritual growth” and increased mental resilience.

Keep ReadingShow less
Sainsburys-Getty

The company expects to generate £1bn in profit, with an underlying dip of around £36m, as competition intensifies across the supermarket sector. (Photo: Getty Images)

Sainsbury's warns of profit dip amid supermarket price war

SAINSBURY’s has forecast that profits from its retail operations may remain flat or decline over the coming year as it continues to reduce grocery prices.

The company expects to generate £1bn in profit, with an underlying dip of around £36m, as competition intensifies across the supermarket sector.

Keep ReadingShow less
The Chase’s Paul Sinha shares Parkinson’s update after major health scare

Sinha’s message was one of resilience and realism

Getty

The Chase’s Paul Sinha shares Parkinson’s update after major health scare

Paul Sinha, known to viewers of ITV’s The Chase as “The Sinnerman,” has spoken candidly about his experience living with Parkinson’s disease. During an appearance on Loose Women on Thursday, 17 April, the comedian and quizzer reflected on his journey from diagnosis to managing the condition day to day.

Sinha, who was diagnosed with the progressive neurological disorder in 2019, revealed that his earliest symptoms were not what many would typically associate with Parkinson’s.

Keep ReadingShow less