The Chancellor of the Exchequer: Who is Rishi Sunak?
As the coronavirus pandemic ravaged through the UK, crippling the economy by halting most of its business operations, one cool, young man of Indian descendants kept popping up on the TV screen. He was Mr Rishi Sunak, the Chancellor of the Exchequer who oversaw two challenging events - Brexit and the Covid-19 lockdowns.
Although relatively young to be the chancellor of the UK, Rishi Sunak was well-qualified before bestowed upon with the responsibility of keeping the UK economy on track. So, who is he exactly and what his role as the Chancellor of the Exchequer entail? Let’s find out from below.
Life and Politics of Rishi Sunak
Rishi Sunak is a conservative British politician who was appointed as the Chancellor of the Exchequer in February 2020. He was born on 12 May 1980 in Southampton, to a Punjabi Hindu parent who emigrated to the country from East Africa. He studied philosophy, politics, and economics at Lincoln College, Oxford. He also has an MBA from Stanford University.
Mr Rishi Sunak is a member of the Conservative Party. He first became a member of the parliament in October 2014, a status he maintained in both the 2017 general election and 2019 re-election. Before becoming the Chancellor of the Exchequer, he served as the Chief Secretary to the Treasury between July 2019 to February 2020.
What Does the Chancellor of the Exchequer Do?
Often abbreviated as just Chancellor, the Chancellor of the Exchequer is the head of Her Majesty’s Treasury. It’s a high-rank Minister of the Crown and a senior position in the British Cabinet.
As the chancellor, Rishi Sunak is responsible for all financial and economical matters of the UK. It is pretty similar to the finance minister role in other countries, which comes with significant control on the Fiscal policy and monetary policy by setting up the departmental expenditure limits.