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Rishi Sunak: UK's history maker gambling on general election turnaround

Britain's first Hindu leader calls July election after struggling to turn political tide over 19 months in power

Tim Stickings
Tim Stickings

May 22, 2024

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Rishi Sunak made history as the UK's first British Asian Prime Minister but his future will be in the hands of British voters when they deliver their verdict at a July election.

Polls suggest Mr Sunak, 44, faces a huge uphill battle to keep his Conservative Party in power after years of political and economic turmoil in Britain.

With an image as a slick operator and safe pair of hands, Mr Sunak promised stability and a focus on bread-and-butter voter priorities after taking power in 2022.

In his 19 months in office he has staked his reputation on a pledges to lift Britain's economic mood, cut hospital waiting times and curb illegal immigration.

He called the election after making the greatest progress to date on any of those pledges when inflation fell to 2.3 per cent, its lowest level in three years.

In choosing July 4 – the earliest possible date for the election in the "second half of this year" he promised – he is gambling that better economic news will persuade voters to "stick to the plan".

He is also promising security at a time of rising extremism but his other pledges have yet to come off and he is weighed down by deep dissatisfaction with the Tories after 14 turbulent years in power.

Rishi Sunak through the years - in pictures

British Prime Minister Rishi Sunak announces July 4 as the date for the 2024 general election at No 10 Downing Street. Here, The National looks back at his political career. Getty Images
British Prime Minister Rishi Sunak announces July 4 as the date for the 2024 general election at No 10 Downing Street. Here, The National looks back at his political career. Getty Images
Mr Sunak during local election campaigning in Teesside in May 2024. Getty Images
Mr Sunak during local election campaigning in Teesside in May 2024. Getty Images
Mr Sunak presents cupcakes to journalists on board a plane on the way to Warsaw in April 2024. Getty Images
Mr Sunak presents cupcakes to journalists on board a plane on the way to Warsaw in April 2024. Getty Images
Mr Sunak during a press conference in Downing Street in January after the Safety of Rwanda Bill passed its third reading in the House of Commons. Getty Images
Mr Sunak during a press conference in Downing Street in January after the Safety of Rwanda Bill passed its third reading in the House of Commons. Getty Images
Being applauded after his speech at the Conservative Party conference in October 2023. Getty Images
Being applauded after his speech at the Conservative Party conference in October 2023. Getty Images
Looking pensive alongside then-home secretary Suella Braverman at No 10 in October 2023. She didn't last much longer in the cabinet. Getty Images
Looking pensive alongside then-home secretary Suella Braverman at No 10 in October 2023. She didn't last much longer in the cabinet. Getty Images
Mr Sunak sits in an old Special Branch police vehicle which was used to transport former prime minister Margaret Thatcher, in July 2023. Getty Images
Mr Sunak sits in an old Special Branch police vehicle which was used to transport former prime minister Margaret Thatcher, in July 2023. Getty Images
On board Border Agency cutter HMC Seeker during a visit to Dover in June 2023. Getty Images
On board Border Agency cutter HMC Seeker during a visit to Dover in June 2023. Getty Images
Mr Sunak alongside European Commission President Ursula von der Leyen, Canada's Prime Minister Justin Trudeau, US President Joe Biden, French President Emmanuel Macron and German Chancellor Olaf Scholz during the G7 Summit in May 2023. Getty Images
Mr Sunak alongside European Commission President Ursula von der Leyen, Canada's Prime Minister Justin Trudeau, US President Joe Biden, French President Emmanuel Macron and German Chancellor Olaf Scholz during the G7 Summit in May 2023. Getty Images
Rishi Sunak and his wife Akshata Murty have a multimillion-pound personal fortune. Getty Images
Rishi Sunak and his wife Akshata Murty have a multimillion-pound personal fortune. Getty Images
Mr Sunak and Chancellor Jeremy Hunt sending a message at Accrington Market Hall in January 2023. Getty Images
Mr Sunak and Chancellor Jeremy Hunt sending a message at Accrington Market Hall in January 2023. Getty Images
Mr Sunak and Ukrainian President Volodymyr Zelenskyy meet in Ukraine's capital Kyiv in November 2022. Getty Images
Mr Sunak and Ukrainian President Volodymyr Zelenskyy meet in Ukraine's capital Kyiv in November 2022. Getty Images
King Charles III welcomes Mr Sunak during an audience at Buckingham Palace, where he invited the newly elected leader of the Conservative Party to become Prime Minister and form a new government in October 2022. Getty Images
King Charles III welcomes Mr Sunak during an audience at Buckingham Palace, where he invited the newly elected leader of the Conservative Party to become Prime Minister and form a new government in October 2022. Getty Images
Mr Sunak makes a statement outside No 10 in October 2022 after taking office. Getty Images
Mr Sunak makes a statement outside No 10 in October 2022 after taking office. Getty Images
Mr Sunak arrives inside Number 10 in October 2022. Photo: Simon Walker/ No 10 Downing Street
Mr Sunak arrives inside Number 10 in October 2022. Photo: Simon Walker/ No 10 Downing Street
Greeted by colleagues at Conservative Party HQ after having been announced winner of the leadership contest in October 2022. Getty Images
Greeted by colleagues at Conservative Party HQ after having been announced winner of the leadership contest in October 2022. Getty Images
Mr Sunak at Westminster Hall in London following the death of Queen Elizabeth II in September 2022. PA
Mr Sunak at Westminster Hall in London following the death of Queen Elizabeth II in September 2022. PA
Mr Sunak visits his family's old business, Bassett Pharmacy, on the campaign trail in August 2022. Getty Images
Mr Sunak visits his family's old business, Bassett Pharmacy, on the campaign trail in August 2022. Getty Images
Mr Sunak looks at an NLAW anti-tank launcher during a visit to the Thales Defence System plant in Belfast in August 2022. Getty Images
Mr Sunak looks at an NLAW anti-tank launcher during a visit to the Thales Defence System plant in Belfast in August 2022. Getty Images
At a hustings event in Exeter in August 2022. Getty Images
At a hustings event in Exeter in August 2022. Getty Images
Celebrates England's first goal as he watches the Women's Euro 2022 final in Salisbury in July 2022. Getty Images
Celebrates England's first goal as he watches the Women's Euro 2022 final in Salisbury in July 2022. Getty Images
Mr Sunak and Ms Truss take part in the BBC Leadership debate at Victoria Hall, Hanley, in July 2022. Getty Images
Mr Sunak and Ms Truss take part in the BBC Leadership debate at Victoria Hall, Hanley, in July 2022. Getty Images
With daughters Krisna and Anoushka and wife Akshata Murthy in July 2022. Getty Images
With daughters Krisna and Anoushka and wife Akshata Murthy in July 2022. Getty Images
Opening the Great Ayton Village Fete during the queen’s Platinum Jubilee celebrations in June 2022. Getty Images
Opening the Great Ayton Village Fete during the queen’s Platinum Jubilee celebrations in June 2022. Getty Images
Mr Sunak and Ms Murthy speak to then-Prince Charles at a British Asian Trust event in February 2022. Getty Images
Mr Sunak and Ms Murthy speak to then-Prince Charles at a British Asian Trust event in February 2022. Getty Images
Mr Sunak arrives at COP26 in Glasgow in November 2021 when he was chancellor. Getty Images
Mr Sunak arrives at COP26 in Glasgow in November 2021 when he was chancellor. Getty Images
Holding the budget box as he departs 11 Downing Street to deliver his Autumn Budget in October 2021. Getty Images
Holding the budget box as he departs 11 Downing Street to deliver his Autumn Budget in October 2021. Getty Images
At a press conference on the 2021 Budget in London in March 2021. Getty Images
At a press conference on the 2021 Budget in London in March 2021. Getty Images
With former prime minister Boris Johnson during a visit to PD Ports on the River Tees in March 2021. Getty Images
With former prime minister Boris Johnson during a visit to PD Ports on the River Tees in March 2021. Getty Images
Mr Sunak poses with the budget box at 11 Downing Street in March 2021. Getty Images
Mr Sunak poses with the budget box at 11 Downing Street in March 2021. Getty Images
Meeting staff back at work after being furloughed at Hamleys toy shop in London, December 2020. Photo: HM Treasury
Meeting staff back at work after being furloughed at Hamleys toy shop in London, December 2020. Photo: HM Treasury
Mr Sunak visits the Imperial Clinic Research Facility at Hammersmith Hospital, London, in November 2020. Getty Images
Mr Sunak visits the Imperial Clinic Research Facility at Hammersmith Hospital, London, in November 2020. Getty Images
Lighting a candle for Diwali on Downing Street, November 2020. Getty Images
Lighting a candle for Diwali on Downing Street, November 2020. Getty Images
Working on a speech in his flat above 11 Downing Street in November 2020. Photo: HM Treasury
Working on a speech in his flat above 11 Downing Street in November 2020. Photo: HM Treasury
Mr Johnson and Mr Sunak visit the headquarters of Octopus Energy in London in October 2020. Getty Images
Mr Johnson and Mr Sunak visit the headquarters of Octopus Energy in London in October 2020. Getty Images
With his 'Winter Economy Plan' outside 11 Downing Street in September 2020. AFP
With his 'Winter Economy Plan' outside 11 Downing Street in September 2020. AFP
Decorating a plate at Emma Bridgewater pottery in Stoke pottery in September 2020. Getty Images
Decorating a plate at Emma Bridgewater pottery in Stoke pottery in September 2020. Getty Images
Promoting 'eat out to help out' on the Isle of Bute, Scotland, in August 2020. Getty Images
Promoting 'eat out to help out' on the Isle of Bute, Scotland, in August 2020. Getty Images
A member of the public takes a selfie with Rishi Sunak during a visit to Scotland in August 2020. AFP
A member of the public takes a selfie with Rishi Sunak during a visit to Scotland in August 2020. AFP
Visiting a Wagamama restaurant in central London in July 2020. Photo: HM Treasury
Visiting a Wagamama restaurant in central London in July 2020. Photo: HM Treasury
Rishi Sunak visits a Pret A Manger in Westminster in July 2020. HM Treasury
Rishi Sunak visits a Pret A Manger in Westminster in July 2020. HM Treasury
With Mr Johnson at his first Cabinet meeting after a reshuffle at 10 Downing Street in February 2020. Getty Images
With Mr Johnson at his first Cabinet meeting after a reshuffle at 10 Downing Street in February 2020. Getty Images
Mr Sunak speaks during a general election debate in Cardiff in November 2019. Getty Images
Mr Sunak speaks during a general election debate in Cardiff in November 2019. Getty Images

Family background

Born in England to a family of Indian descent, Mr Sunak is the UK's first Hindu and first British Asian leader – a landmark that won him cross-party congratulations.

At only 42, he also became Britain's youngest prime minister since Lord Liverpool in 1812.

Assuming power during Diwali in October 2022, he wore a garland of flowers to celebrate the Hindu festival of lights on his first full day in No 10 Downing Street.

While inspiring pride among some of Britain's ethnic minorities, Mr Sunak has also failed to shake off an image of wealth and privilege.

Educated in the prestigious classrooms of Winchester College and the University of Oxford, he and his wife Akshata Murty have an estimated $673 million (£528 million) fortune.

Ms Murty owns a stake in Infosys, a $64 billion Indian IT company co-founded by her billionaire father. The couple have two daughters.

Rishi Sunak and his wife Akshata Murty have a multimillion-pound personal fortune. Getty Images
Rishi Sunak and his wife Akshata Murty have a multimillion-pound personal fortune. Getty Images

A former investment banker with a fascination for tech and AI, Mr Sunak entered politics in 2015 when he was elected Conservative MP for Richmond, Yorkshire.

A supporter of Brexit, his rise in party ranks was rapid and he was a cabinet minister by 2019, when Boris Johnson made him a minister in the Treasury.

He became chancellor of the exchequer in February 2020 in a role that would massively raise his profile during the Covid-19 pandemic.

His £410 billion spending spree kept millions of people afloat during the dark days of lockdown and job furloughs.

While known for a media-savvy social media presence, he did not emerged unscathed from Covid-era scandal as he was fined over an illegal Downing Street birthday party.

The drumbeat of scandal would ultimately bring down the Johnson government, which collapsed after Mr Sunak resigned in July 2022.

Rishi Sunak was first appointed to the cabinet by Boris Johnson but later had a role in his boss's downfall. PA
Rishi Sunak was first appointed to the cabinet by Boris Johnson but later had a role in his boss's downfall. PA

Defeat and comeback

Mr Sunak lost the subsequent Conservative leadership election to right-wing rival Liz Truss, but he was given a second chance when her gung-ho economic agenda collapsed within 49 days.

Tory MPs desperate for stability rallied around Mr Sunak and he was crowned leader without a vote being cast – even though some never forgave him for his role in Mr Johnson's downfall.

After being appointed by King Charles III he stood on the steps of No 10 Downing Street promising to restore "stability and confidence".

There were early signs of the stability he promised as financial markets calmed and post-Brexit differences were patched up with France and the EU.

In January 2023 he made his five pledges to halve inflation, grow the economy, cut national debt, reduce hospital waiting lists and stop illegal immigration over the English Channel.

His campaign to "stop the boats" has been beset by delays although he finally claimed a win last month when a first illegal migrant voluntarily left for Rwanda under a controversial scheme.

Rishi Sunak's childhood landmarks - in pictures

Rishi Sunak was born in Southampton on the south coast of England. Here he is pictured visiting his family's old business, Bassett Pharmacy, in Southampton, during his campaign to be leader of the Conservative Party in August. PA
Rishi Sunak was born in Southampton on the south coast of England. Here he is pictured visiting his family's old business, Bassett Pharmacy, in Southampton, during his campaign to be leader of the Conservative Party in August. PA
The childhood home of Mr Sunak: 21, Spindlewood Close, in Southampton. Getty Images
The childhood home of Mr Sunak: 21, Spindlewood Close, in Southampton. Getty Images
The former Oakmount Prep School where Rishi Sunak was a pupil before going on to Winchester College. The school closed in 1989. Getty Images
The former Oakmount Prep School where Rishi Sunak was a pupil before going on to Winchester College. The school closed in 1989. Getty Images
The Vedic Society Hindu Temple in Southampton, which was established by Ramdas Sunak, Mr Sunak's grandfather. Getty Images
The Vedic Society Hindu Temple in Southampton, which was established by Ramdas Sunak, Mr Sunak's grandfather. Getty Images
The Vedic Society Hindu Temple prepares to celebrate the Hindu New Year. Mr Sunak's family were regulars at the temple during his childhood. Getty Images
The Vedic Society Hindu Temple prepares to celebrate the Hindu New Year. Mr Sunak's family were regulars at the temple during his childhood. Getty Images
The Raymond Road Doctors Surgery where Yashvir Sunak, Rishi Sunak's father, practiced medicine in Southampton. Getty Images
The Raymond Road Doctors Surgery where Yashvir Sunak, Rishi Sunak's father, practiced medicine in Southampton. Getty Images
The former site of Kuti's Brasserie in Oxford Road Southampton, where Mr Sunak worked shifts in the 1990s. Getty Images
The former site of Kuti's Brasserie in Oxford Road Southampton, where Mr Sunak worked shifts in the 1990s. Getty Images
Southampton Football Club's St Mary's Stadium. Mr Sunak claims to be a big fan of his home-town team. Getty Images
Southampton Football Club's St Mary's Stadium. Mr Sunak claims to be a big fan of his home-town team. Getty Images

The waiting lists drive was hit by a pay dispute with doctors while the economy has slipped back into recession, foiling another pledge.

Last year he angered climate campaigners by watering down some of Britain's net-zero pledges, saying he was putting the UK on a more realistic path.

Amid wars in the Middle East and Ukraine he has recently put a focus on security and promised to raise the UK's defence spending.

The sometimes ugly fallout from the Israel-Gaza war has also prompted an anti-extremism drive to tackle what Mr Sunak called a "poison" in British society.

While he has presided over an uneasy calm in relentless Tory warfare, an undercurrent of scandal has continued to plague the party under Mr Sunak's leadership.

An election win on July 4 would be one of Britain's biggest political upsets and require political skill that many feel Mr Sunak has lacked to date.

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Anita Williams
Dubai-based singer Anita Williams will open the night with a set of covers and swing, jazz and blues standards that made her an in-demand singer across the emirate. The Irish singer has been performing in Dubai since 2008 at venues such as MusicHall and Voda Bar. Her Jazz Garden appearance is career highlight as she will use the event to perform the original song Big Blue Eyes, the single from her debut solo album, due for release soon.

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How will Gen Alpha invest?

Mark Chahwan, co-founder and chief executive of robo-advisory firm Sarwa, forecasts that Generation Alpha (born between 2010 and 2024) will start investing in their teenage years and therefore benefit from compound interest.

“Technology and education should be the main drivers to make this happen, whether it’s investing in a few clicks or their schools/parents stepping up their personal finance education skills,” he adds.

Mr Chahwan says younger generations have a higher capacity to take on risk, but for some their appetite can be more cautious because they are investing for the first time. “Schools still do not teach personal finance and stock market investing, so a lot of the learning journey can feel daunting and intimidating,” he says.

He advises millennials to not always start with an aggressive portfolio even if they can afford to take risks. “We always advise to work your way up to your risk capacity, that way you experience volatility and get used to it. Given the higher risk capacity for the younger generations, stocks are a favourite,” says Mr Chahwan.

Highlighting the role technology has played in encouraging millennials and Gen Z to invest, he says: “They were often excluded, but with lower account minimums ... a customer with $1,000 [Dh3,672] in their account has their money working for them just as hard as the portfolio of a high get-worth individual.”

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