Rishi Sunak’s Fast Rise to Become Britain’s New Prime Minister | WSJ

I pledge that I will serve you with integrity and humility and I will work day in day out to deliver for the british people. The U. K. Has a new prime Minister Rishi son aka former investment banker takes over the time of big financial and economic challenges. What's unusual is that less than two months ago, Nac actually lost an election within his party to get the job. But his rival is trust resigned. I cannot deliver the mandate on which I was elected by the Conservative Party and only a few years after starting in politics became the first person of color to lead the United Kingdom. Here's a look at how he rose through the ranks of the Conservative Party today. I have the enormous privilege of standing here as a member of parliament, made his debut in parliament in 2015, putting a sense of humor on display as a lawmaker representing a county in Northern England. And although I am not from Yorkshire, they were immensely relieved to learn that I was not from lancashire either, the son of a pharmacist and a doctor of indian descent. He was an early supporter of Brexit and went on to hold junior ministerial roles. But his career really took off when he got the second most important job in Boris johnson's government who holds an M. B. A. From stanford and has worked for Goldman Sachs, among other places, became the UK's Treasury Chief, Delighted to be appointed to get on with. And he immediately came into the spotlight overseeing the government's response to the COVID-19 pandemic, I can announce today an unprecedented package of government backed and guaranteed loans to support business. To get through this, he announced a large spending program when I say large £330 billion pounds to help businesses pay wages to millions of people who couldn't work during the pandemic In early 2022 as his boss faced a series of scandals, Rishi Cenac resigned his treasury chief and soon after Johnson himself stepped down. Soon ac made an announcement, I'm standing To be the next leader of the Conservative Party and your prime minister back raced against trust whose plans he called fairytale economics in televised debates. He stressed that the priority should be to keep inflation and interest rates under control. Your plans would mean that interest rates would have to go up to around 7%. So just think what that means for all of your mortgage. Is he lost that race, but won the argument after trustees plans caused havoc on financial markets. Now, Trust is out and he's won the UK premiership in one of the more spectacular I told you so moments in modern politics. So what challenges does he inherit from his predecessors? The economy will be one big thing on his agenda. There's a looming recession in the U. K. And high inflation, which creates a double whammy for ordinary people who has advocated for spending cuts has also been widely criticized by the british press and public as a former hedge fund manager who is married to the daughter of one of India's richest men, he has sometimes been seen as out of touch with the people's economic reality.

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Id: nZBgpiurV7Q

Length: 3min 14sec (194 seconds)

Published: Mon Oct 24 2022