A New British Prime Minister
British politician Rishi Sunak
Credit: ©ComposedPix/Shutterstock
Today, Tuesday, October 25, 2022, Rishi Sunak, the former Chancellor of the Exchequer, has become the 57th prime minister of the United Kingdom. Sunak was the only candidate for the Conservative party following former Prime Minister Liz Truss’ resignation after only seven weeks in office. Sunak pushed for the removal of former Prime Minister Boris Johnson from office this past summer. Sunak made history as the first prime minister of color for the United Kingdom. As a son of Indian parents who moved to the United Kingdom from East Africa in the 1960’s, Sunak is also the first Hindu and first British Indian to serve in the role. At 42 years old, he is also the youngest person to become prime minister since 1812.
Sunak is tasked with cleaning up the British economy after the plan proposed by Truss sparked panic across the country. Sunak is experienced in finance as former Chancellor of the Exchequer. The Exchequer is a department in the Treasury of the United Kingdom. It collects, manages, and spends government funds. The department is controlled by the Treasury Board, which is composed of the prime minister (called the first lord of the treasury), the chancellor of the exchequer, and five junior lords. The chancellor is the minister of finance, and is always a Cabinet member. The chancellor prepares the annual budget. The budget contains proposed government expenditures and a program for raising money to meet these expenditures.
Britain is currently in a financial whirlwind after former Prime Minister Liz Truss reversed plans to cut taxes by 45 billion pounds, after the proposal upset lawmakers and caused the British pound to plummet. Sunak addressed the instability and proposed spending cuts to battle the highest inflation Britain has seen in 40 years.
After meeting with King Charles III at Buckingham Palace, Sunak formally became Britain’s fifth prime minister in six years. He vowed to bring economic stability and confidence to the British government. Since Sunak became prime minister after the resignation, he did not detail his policy plans in campaigns. He secured the premier position without formally addressing his stance on the war in Ukraine, Britain’s relationship with the European Union after Brexit, immigration, or climate change.
