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76-553: The proposal was intended to bring together A-Levels and T-Levels into a single new qualification, with students being able to take a wide mix of technical and academic subjects. The proposal had been announced by Prime Minister Rishi Sunak at the Conservative Party Conference in October 2023. The Conservative government of the time described it as a ' Baccalaureate -style qualification'. If implemented,

152-591: A Master of Business Administration degree from Stanford University as a Fulbright Scholar . Sunak's paternal grandfather was from Gujranwala (in present-day Pakistan ), while his maternal grandfather was from Ludhiana (in present-day India ); both cities at the time were part of the Punjab province in British India . His grandparents migrated to East Africa, and then to the United Kingdom in

228-522: A global minimum tax on multinationals and online technology companies. In October 2021, the OECD signed an accord to join the tax reform plan. Later that month, Sunak attended COP26 in Glasgow. During his speech given on 3 November, he said that he felt optimism despite daunting challenges and that by bringing together finance ministers, businesses and investors, COP26 could begin to deliver targets from

304-588: A planned national insurance rise in April, he promised to align the primary threshold with the basic personal income allowance as of July. He also promised a reduction in income tax in 2024. Sunak also provided some funding which was intended to help vulnerable people cope with the cost of living. Sunak hosted a G7 summit in London in June 2021. A tax reform agreement was signed, which in principle sought to establish

380-449: A second referendum on any withdrawal agreement . May's withdrawal agreement was rejected by Parliament three times, leading to May announcing her resignation in May 2019. Sunak supported Boris Johnson 's successful bid to succeed May in the 2019 Conservative Party leadership election and co-wrote an article with fellow MPs Robert Jenrick and Oliver Dowden to advocate for Johnson during

456-728: A backbench MP for the next five years. Rishi Sunak was born on 12 May 1980 in Southampton General Hospital in Southampton , Hampshire, to East African-born Hindu parents of Indian Punjabi descent. His father was born in the Kenya Colony in 1949, while his mother was born in the Tanganyika Territory (modern-day Tanzania ). His paternal grandfather Ramdas Sunak had migrated from Gujranwala , located in present-day Pakistan , to

532-550: A dayboy, becoming head boy of the college. He worked as a waiter, at the curry house Kuti's Brasserie in Southampton, during his summer holidays. He read philosophy, politics and economics at Lincoln College, Oxford , graduating with a first in 2001. During his time at university, he undertook an internship at Conservative Campaign Headquarters and joined the Conservative Party . In 2006 Sunak earned

608-474: A full ceasefire as he argued that this would only benefit Hamas. Israel used British-supplied weapons in the war. However, Sunak later condemned the high number of civilian casualties in Gaza and called for a "sustainable ceasefire" in which all Israeli hostages were returned to Israel, attacks against Israel ceased and humanitarian aid was allowed into Gaza. His government supported the two-state solution as

684-459: A government crisis , triggering a leadership contest . On 22 October, it was reported that Sunak had the required number of supporters—100 members of the House of Commons—to run in the ballot on 24 October. The total number of MPs who publicly declared support passed 100 on the afternoon of 22 October. On 23 October, Sunak declared that he would stand for election. After Johnson ruled himself out of

760-483: A new economic ministry led by Sunak might be established, to reduce the power and political influence of the Treasury. By February 2020, it was reported that Javid would remain in his role as Chancellor and that Sunak would stay on as Chief Secretary to the Treasury, in order to "keep an eye" on Javid. On 13 February 2020, the day of the reshuffle, Javid resigned as Chancellor, following a meeting with Johnson. During

836-408: A pandemic and began rapidly spreading across the country, Sunak became prominent in the government's response to the pandemic and its economic impact . On 20 March 2020, Sunak gave a statement on COVID-19, saying: Now, more than any time in our history, we will be judged by our capacity for compassion. Our ability to come through this, won’t just be down to what government or businesses do, but by

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912-561: A partner at the hedge fund firms the Children's Investment Fund Management and Theleme Partners . Sunak was elected to the House of Commons at the 2015 general election . As a backbencher , Sunak supported the successful campaign for Brexit in the 2016 European Union membership referendum . Sunak was appointed to the junior ministerial position of Parliamentary Under-Secretary of State for Local Government by Theresa May in 2019, and

988-576: A partner in September 2006. He left in November 2009 to join former colleagues in California at a new hedge fund firm, Theleme Partners, which launched in October 2010 with $ 700 million under management (equivalent to $ 978 million in 2023). At both hedge funds, his boss was Patrick Degorce . Sunak was also a director of the investment firm Catamaran Ventures, owned by his father-in-law,

1064-428: A plan, it’s a fairytale.” A spokesperson for Sunak later said: “The reality is that Truss cannot deliver a support package as well as come good on £50bn worth of unfunded, permanent tax cuts in one go. To do so would mean increasing borrowing to historic and dangerous levels, putting the public finances in serious jeopardy and plunging the economy into an inflation spiral." In the membership vote, Truss received 57.4% of

1140-517: A programme providing £330 billion in emergency support for businesses, as well as the Coronavirus Job Retention furlough scheme for employees. This was the first time a British government had created such an employee retention scheme. The scheme was introduced on 20 March 2020 as providing grants to employers to pay 80% of a staff wage and employment costs each month, up to a total of £2,500 per person per month. The cost

1216-502: A report for the Thatcherite think tank Centre for Policy Studies supporting the establishment of free ports after Brexit , and the following year wrote a report advocating the creation of a retail bond market for small and medium-sized enterprises . Following Cameron's resignation, Sunak endorsed Michael Gove in the 2016 Conservative Party leadership election , and later endorsed successful candidate Theresa May after Gove

1292-558: A resolution to the conflict. When the International Criminal Court prosecutor Karim Ahmad Khan announced that he would seek to charge Israeli prime minister Benjamin Netanyahu with war crimes, Sunak criticised the move as "unhelpful" and accused Khan of drawing a moral equivalence between Israel and Hamas. Theleme Partners Patrick Degorce (born 1969) is a French hedge fund manager, and

1368-686: A significant restructuring of government departments . New departments included those for Business and Trade , Energy Security and Net Zero , and Science, Innovation and Technology . The Department for International Trade and the Department for Business, Energy and Industrial Strategy were split and merged into other departments. Ministers who joined the cabinet in the first reshuffle included Greg Hands took over as chairman from Zahawi, though later resigned and replaced by Richard Holden . Lucy Frazer became Secretary of State for Culture, Media and Sport taking over from Donelan. Rachel Maclean left

1444-514: A tightening of the definition of asylum. On 20 July, Sunak and Foreign Secretary Liz Truss emerged as the final two candidates in the contest on 20 July to be put forward to the membership for the final leadership vote. He had received the most votes in each of the series of MP votes with Sunak receiving 137 to Truss's 113 in the final round. Sunak opposed Truss' economic plans and predicted they would result in economic damage, saying "Liz, we have to be honest. Borrowing your way out of inflation isn’t

1520-595: Is a psychologist and his sister works in New York as chief of strategy and planning at Education Cannot Wait, the United Nations Global Fund for Education in Emergencies and Protracted Crises. Sunak worked as an analyst for the investment bank Goldman Sachs between 2001 and 2004. He then worked for hedge fund management firm The Children's Investment Fund Management (TCI), becoming

1596-420: Is its CEO and CIO. Theleme is based in the same premises as hedge fund powerhouse Lansdowne Partners , with whom they share some back office functions. Degorce was British Prime Minister Rishi Sunak 's boss at the Children's Investment Fund Management and Theleme Partners. In 2011, Degorce was one of the earliest investors in the pharmaceutical company Moderna (when they only had about ten employees), in

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1672-422: Is why I am resigning. It has become clear to me that our approaches are fundamentally too different. I am sad to be leaving Government but I have reluctantly come to the conclusion that we cannot continue like this. On 8 July 2022, Sunak announced his candidacy in the leadership election to replace Johnson. Sunak launched his campaign in a video posted to social media, writing that he would "restore trust, rebuild

1748-446: The 2024 general election , Sunak won the seat of Richmond and Northallerton , which replaced his former seat of Richmond (Yorks), with a majority of 23,059 (51.4). Sunak was appointed to a junior ministerial position in May's second government as Parliamentary Under-Secretary of State for Local Government in the 2018 cabinet reshuffle . Sunak voted for May's Brexit withdrawal agreement on all three occasions , and voted against

1824-513: The Institute for Fiscal Studies about the statement's impact, as well as its cost-effectiveness, while at least one major retailer declined to take advantage of a financial bonus scheme intended for rehiring employees placed on furlough during the pandemic. In his March 2021 budget, Sunak emphasized the effect the COVID-19 pandemic has had on the economy, with 700,000 people losing their jobs,

1900-479: The Paris Agreement . On 5 July 2022, Sunak and Javid resigned almost simultaneously amid a scandal surrounding the sexual harassment allegations against Chris Pincher , which arose after it was revealed that Johnson had promoted Pincher to the position of Deputy Chief Whip while knowing of the allegations beforehand. Sunak was the second of 61 Conservative MPs to resign during the government crisis. He

1976-635: The UK stood with Ukraine from the very beginning. And I am here today to say the UK and our allies will continue to stand with Ukraine, as it fights to end this barbarous war and deliver a just peace." Sunak visited Ukraine on 12 January 2024 to sign a new U.K.-Ukraine Agreement on Security Cooperation with Zelenskyy promising £2.5 billion in military aid to Ukraine, including long-range missiles, artillery ammunition, air defence and maritime security, in addition to £200 million to be spent on military drones, making

2052-504: The corporation tax rate since Labour 's Denis Healey in 1974. In October 2021, Sunak made his third and final budget statement, which included substantial spending promises related to science and education. The budget increased in-work support through the Universal Credit system by increasing the work allowances by £500 a year, and reducing the post-tax deduction taper rate from 63% to 55%. £560 million of investment

2128-509: The cost-of living crisis . As chancellor, Sunak received high approval and popularity ratings in the early stages of the COVID-19 pandemic in 2020, although his popularity later declined amid the cost-of living crisis in 2022. He resigned as chancellor in July 2022 amid a government crisis that culminated in Johnson's resignation, and stood in the leadership election to succeed him. He received

2204-419: The hospitality industry . The government subsidised food and soft drinks at participating cafes, pubs and restaurants at 50%, up to £10 per person. The offer was available from 3 to 31 August on Monday to Wednesday each week. In total, the scheme subsidised £849 million in meals. Patrick Vallance and Chris Whitty were not informed of the scheme. Some considered the scheme to be a success in boosting

2280-460: The 1930s. In March 2021, Sunak announced that the scheme had been extended once more until September 2021. In July 2020, Sunak unveiled a plan for a further £30 billion of spending which included a stamp duty holiday, a cut to value-added tax (VAT) for the hospitality sector, a job retention bonus for employers and the Eat Out to Help Out scheme, aimed at supporting and creating jobs in

2356-681: The 1960s. His father was born and raised in the Colony and Protectorate of Kenya (present-day Kenya), and was a general practitioner in the National Health Service (NHS). His mother, born in Tanganyika (which later became part of Tanzania ), was a pharmacist who owned the Sunak Pharmacy in Southampton between 1995 and 2014, and has a degree from Aston University . Sunak is the eldest of three siblings. His brother

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2432-501: The 1960s. He was educated at Winchester College , studied philosophy, politics and economics at Lincoln College, Oxford , and earned a Master of Business Administration from Stanford University in California as a Fulbright Scholar . During his time at Oxford University, Sunak undertook an internship at Conservative Central Office , and joined the Conservatives. After graduating, Sunak worked for Goldman Sachs and later as

2508-612: The British and Rwandan Parliaments. The government also introduced the Safety of Rwanda (Asylum and Immigration) Bill , emergency legislation giving ministers the power to disapply sections of the Human Rights Act 1998 and certain aspects of international law in order to allow them to declare Rwanda a safe country according to UK law. The bill was criticised by many on the right of the party for not going far enough, resulting in

2584-591: The Channel in small boats to the UK in 2023. Long-term net migration to the United Kingdom (the number of people immigrating minus the number emigrating) reached a record high of 764,000 in 2022, with legal immigration at 1.26 million and emigration at 493,000. Of the 1,218,000 legal migrants coming to the UK in 2023, only 10% were EU Nationals. Sunak continued the Rwanda asylum plan to have asylum seekers and illegal immigrants sent to Rwanda for processing. After

2660-462: The Dutch bank ABN AMRO calling for its break up, citing its unsuccessful cost-cutting plans. The letter and subsequent press attention ultimately led to its purchase by a consortium led by Royal Bank of Scotland , in what was at the time the world's largest bank takeover at US$ 98.3 billion. In 2009, Degorce founded Theleme Partners LLP, a hedge fund based at 15 Davies Street , Mayfair, London, and

2736-584: The Indian businessman N. R. Narayana Murthy of Infosys , between 2013 and 2015. Sunak was selected as the Conservative candidate for Richmond (Yorks) in October 2014. The seat was previously held by William Hague . In the same year Sunak was head of the Black and Minority Ethnic (BME) Research Unit of the conservative think tank Policy Exchange , for which he co-wrote a report on BME communities in

2812-505: The Kenyan capital of Nairobi in 1935, while his maternal grandfather, Raghubir Berry, grew up in Punjab before eventually moving to Tanzania as an engineer. Both of Sunak's parents had moved to the UK in 1966. While in the UK they eventually met and would get married in 1977. Sunak attended Stroud School, a preparatory school in Romsey , and later studied at Winchester College as

2888-587: The Opposition , serving in this role from July to November 2024. The first British Asian to hold those offices, he previously held two Cabinet positions under Boris Johnson , latterly as Chancellor of the Exchequer from 2020 to 2022. Sunak has been Member of Parliament (MP) for Richmond and Northallerton , previously Richmond (Yorks) , since 2015. Sunak was born in Southampton to parents of Indian descent who immigrated to Britain from East Africa in

2964-473: The UK is a stub . You can help Misplaced Pages by expanding it . Rishi Sunak Rishi Sunak (born 12 May 1980) is a British politician who served as Prime Minister of the United Kingdom from 2022 to 2024. He was Leader of the Conservative Party from October 2022 to November 2024. Following his defeat to Keir Starmer ’s Labour Party in the 2024 general election , he became Leader of

3040-540: The UK the largest deliverer of drones to Ukraine out of any nation according to Downing Street. In October 2023, Hamas launched a surprise attack on Israel that devolved into a war and a growing humanitarian crisis in the Gaza Strip . Sunak pledged the UK's support for Israel and declared that Israel "has an absolute right to defend itself". Sunak backed calls for humanitarian pauses to allow for aid to be brought into Gaza, although he initially rejected calls for

3116-485: The UK's lowest income households, a further £650 payment was announced. Additionally, pensioners or those with disability would qualify for extra payments, on top of the £550 that every household gets, and the £650 they would receive if they had a low income. Sunak presented his first budget, Delivering on Our Promises to the British People, on 11 March 2020. It was scheduled to be followed by another budget in

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3192-680: The UK. He was elected as MP for the constituency at the 2015 general election with a majority of 19,550 (36.2%). During the 2015–2017 Parliament he was a member of the Environment, Food and Rural Affairs Select Committee . Sunak supported the successful campaign to leave the European Union in the 2016 European Union membership referendum , criticising the EU's immigration laws: "We are discriminating against countries with whom we have ties of history, language and culture" That year, he wrote

3268-471: The appointment of Laura Trott as Chief Secretary to the Treasury . In February 2023, Sunak negotiated a proposed agreement with the EU on Northern Ireland 's trading arrangements which was published as the Windsor Framework . On 27 February, Sunak delivered a statement to the House of Commons, saying that the proposed agreement "protects Northern Ireland's place in our Union. On 22 March,

3344-405: The autumn, but in September 2020 he announced that budget would be scrapped because of the COVID-19 pandemic, stating "now is not the right time to outline long-term plans – people want to see us focused on the here and now". Instead, additional statements were given by the chancellor in both summer and autumn . The Winter Economy Plan was delivered by Sunak on 24 September 2020. The purpose of

3420-470: The autumn; the Conservatives lost this election in a landslide to the opposition Labour Party led by Keir Starmer , ending 14 years of Conservative government. After leaving office, Sunak became Leader of the Opposition and remained Conservative leader for nearly four months while the leadership election to replace him took place, and formed a shadow cabinet . He was succeeded by Kemi Badenoch , his Shadow Housing Secretary . He also intends to remain as

3496-408: The backbenches and joined the Department for Levelling Up, Housing and Communities . Sunak's last cabinet reshuffle in November 2023 saw the return of former prime minister David Cameron to government following a seven-year absence from frontline politics, replacing James Cleverly as foreign secretary. It also saw the departures of Braverman and Coffey from government and Hands from the cabinet, and

3572-545: The campaign in June. Sunak was appointed to the senior cabinet role of chief secretary to the Treasury by Johnson, serving under Sajid Javid . He became a member of the Privy Council the next day. During the 2019 general election, Sunak represented the Conservatives in debates. In the weeks leading up to Johnson's first cabinet reshuffle in February 2020, a number of briefings in the press had suggested that

3648-410: The coronavirus mini-budget) was delivered by Sunak on 8 July 2020. The purpose of the statement was to announce measures aimed at helping to promote economic recovery following the impact of the COVID-19 pandemic. The statement was delivered to the House of Commons, where Sunak unveiled a spending package worth £30bn. Concerns were subsequently raised by organisations including HM Revenue and Customs and

3724-517: The country , and pledged support for Israel after the attacks which began the Israel–Hamas war whilst later calling for a ceasefire in the Gaza Strip . He did not avert further unpopularity for the Conservatives, reflected in the party's poor performances in the 2023 and 2024 local elections . Sunak called a general election for July 2024 despite being widely expected to call the election in

3800-428: The date of the parliamentary vote, 22 Conservative MPs and six DUP MPs voted against the government legislation. The vote ultimately passed by 515 votes to 29. In 2019 the Conservative Party and Boris Johnson pledged to reduce net migration below 250,000 per year, but Sunak said in 2023 that the priority was not to reduce legal immigration but to stop illegal immigration . Nearly 30,000 undocumented migrants crossed

3876-432: The economy and reunite the country". He said that his values were "patriotism, fairness, hard work", and pledged to "crack down on gender neutral language". During the campaign, Sunak pledged to included tax cuts only when inflation was under control, scrapping of the 5% VAT rate on household energy for one year, introducing a temporary £10 fine for patients who fail to attend GP appointments, capping of refugee numbers, and

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3952-534: The economy and stabilise national politics. He outlined five key priorities: halving inflation, growing the economy, cutting debt, reducing National Health Service waiting lists, and stopping the illegal small-boat crossings of the English Channel by enacting the Rwanda asylum plan . On foreign policy, Sunak authorised foreign aid and weapons shipments to Ukraine in response to the Russian invasion of

4028-400: The economy shrinking by 10% (the largest fall in 300 years), and the highest borrowing outside wartime. The budget included an increase in the rate of corporation tax from 19% to 25% in 2023, a five-year freeze in the tax-free personal allowance and the higher rate income tax threshold, and the extension of the furlough scheme until the end of September. Sunak was the first Chancellor to raise

4104-582: The first confirmed COVID-19 cases in January 2020, Sunak introduced advice for travellers coming from affected countries in late January and February 2020, and began contact tracing , although this was later abandoned. There were further societal restrictions on the public as the virus spread across the country in the following weeks , initially resisting more stringent measures introduced elsewhere in Europe and Asia . On 23 March 2020, as COVID-19 had become

4180-514: The first five years of their career for teachers in key subjects, with Further Education colleges set to benefit the most from this funding. The qualification was described as an "undeliverable gimmick" by a Labour Party spokesperson. The Guardian reported that the plan appeared to have emerged from Downing Street, with little or no involvement from the Department for Education , nor the Education secretary Gillian Keegan . Sky News noted that

4256-451: The forthcoming general election created uncertainty about the future of the proposal. On July 29th 2024, the newly elected Labour government’s Chancellor of the Exchequer, Rachel Reeves , announced the proposed qualification was being cancelled with immediate effect, citing budget constraints in place at that time. This England -related article is a stub . You can help Misplaced Pages by expanding it . This article relating to education in

4332-548: The founder and chief executive officer (CEO) of Theleme Partners LLP. Degorce has French nationality, and Swiss residence. Degorce was an officer in the French Navy in his 20s, before switching to a career in financial services. He worked for Merrill Lynch Investment Managers for seven years, rising to fund manager. In 2003, Degorce was a co-founder, along with Chris Hohn , of The Children's Investment Fund Management (TCIF) hedge fund. In 2007, Degorce wrote to

4408-554: The hospitality industry, whilst others disagreed. A 2020 study found that the scheme contributed to a rise in COVID-19 infection, which Johnson acknowledged but the Treasury rejected. It was later said by Vallance during the COVID-19 Inquiry that Sunak had not informed medical advisers of the scheme until it was announced, whereas written evidence from Sunak said that the scheme had been discussed with medical advisers, including Vallance, and they had not objected. Amid

4484-486: The individual acts of kindness that we show each other. When this is over, we want to look back on this moment and remember the many small acts of kindness done by us and to us. We want to look back on this time and remember how we thought first of others and acted with decency. We want to look back on this time and remember how, in the face of a generation-defining moment, we undertook a collective national effort - and we stood together. It’s on all of us. Sunak introduced

4560-504: The meeting, Johnson had offered to allow Javid to keep his position on the condition that he dismiss all his advisers at the Treasury and replace them with ones selected by 10 Downing Street. Upon resigning, Javid told the Press Association that "no self-respecting minister would accept those terms". Sunak was promoted to chancellor to replace Javid as part of Johnson's first cabinet reshuffle later that day. In response to

4636-468: The most votes in each of the series of MP votes, but lost the members' vote to Liz Truss . After spending the duration of Truss's premiership on the backbenches, Sunak was elected unopposed in the leadership election to succeed Truss, who resigned amid another government crisis ; aged 42 at the time he became prime minister, Sunak became the youngest prime minister since The Earl of Liverpool in 1812. During his premiership , Sunak attempted to improve

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4712-453: The new qualification would have been expected to come into effect around 2033. It was announced that the government intended to start a consultation in Autumn 2023 to discuss how the qualification should be developed, and that a budget of £600 million had been allocated over two years for the development of the qualification. This would include funding for a tax-free bonus of up to £30,000 over

4788-603: The plan was blocked by the UK's Court of Appeal in June 2023 due to concerns over international law and the possibility of refoulement (persecution of those sent to Rwanda), Sunak vowed to appeal against the verdict to the Supreme Court . On 15 November 2023, the Supreme Court upheld the ruling and declared the plan unlawful. In response, Sunak sent Cleverly to Rwanda to negotiate a treaty with Rwanda focused on preventing refoulement which must now be ratified by

4864-624: The race and Penny Mordaunt withdrew her candidacy, Sunak was announced as the new leader on 24 October. As the leader of the majority party in the House of Commons, Sunak was appointed as prime minister by Charles III on 25 October 2022, becoming the first British Asian to take the office. At 42, Sunak became the youngest prime minister since Robert Jenkinson, 2nd Earl of Liverpool , in 1812. In his first speech as prime minister, Sunak said that Truss "was not wrong" to want to improve growth and that he "admired her restlessness to create change", but admitted that "some mistakes were made", and that he

4940-746: The resignation of the minister for immigration, Robert Jenrick. On 12 December 2023 Sunak secured a government majority of 44 for the Safety of Rwanda Bill, despite the opposition of all other parties and abstentions from members of the European Research Group . Following the 15 November missile explosion in Poland , Sunak met US President Joe Biden and delivered a speech about it. Sunak later met Ukrainian President Volodymyr Zelenskyy , and pledged to give Ukraine £50 million in aid. After meeting Zelenskyy, Sunak said: "I am proud of how

5016-427: The rising cost of living and energy crises, Sunak intensified efforts to respond to the crisis in May 2022, with a £5 billion windfall tax on energy companies to help fund a £15 billion support package for the public. The package included every household getting a £400 discount on energy bills, which would be in addition to a £150 council tax refund the government had already ordered. For about 8 million of

5092-473: The statement was to announce measures aimed at further helping to promote economic recovery following the impact of COVID-19. The plan aimed to further promote economic recovery while preserving jobs and businesses which were considered viable. After a second lockdown in England on 31 October 2020, the programme was extended several times, until 30 September 2021. The July 2020 summer statement (also known as

5168-531: The vote, making her the new leader. Sunak responded by offering his support to Truss, saying "It’s right we now unite behind the new PM, Liz Truss, as she steers the country through difficult times." He spent the duration of Truss's premiership on the backbenches. As Sunak predicted, Truss announced large-scale tax cuts and borrowing in a mini-budget on 23 September, which was widely criticised and – after it rapidly led to financial instability – largely reversed. She announced her resignation on 20 October 2022 amid

5244-650: Was announced for the Levelling Up White Paper . Many of the announcements to be made in the budget were previewed before budget day, drawing criticism and anger from the House of Commons. In response to the criticism, Sunak said the budget "begins the work of preparing for a new economy". Sunak made what would ultimately be his final budget, his spring statement, on 23 March 2022. He cut fuel duty , removed VAT on energy saving equipment (such as solar panels and insulation) and reduced national insurance payments for small businesses and, while continuing with

5320-444: Was appointed Chancellor of the Exchequer , and Dominic Raab was also re-appointed as deputy prime minister and Justice Secretary, he later resigned from these roles in April 2023 and was replaced by Oliver Dowden. James Cleverly was appointed Foreign Secretary with Suella Braverman as Home Secretary . Ben Wallace was appointed Secretary of State for Defence . Michael Gove was appointed Levelling Up Secretary , Grant Shapps

5396-664: Was appointed as Secretary of State for Business, Energy and Industrial Strategy , and Penny Mordaunt became Leader of the House of Commons and Lord President of the council. Other key appointments included Simon Hart as Parliamentary Secretary to the Treasury and Chief Whip of the House of Commons, Nadhim Zahawi as Chairman of the Conservative Party , Oliver Dowden as Chancellor of the Duchy of Lancaster , Thérèse Coffey as Environment Secretary , Mel Stride as Work and Pensions Secretary and Mark Harper as Transport Secretary. Sunak's first cabinet reshuffle in February 2023 saw

5472-482: Was appointed to the cabinet-attending role of Chief Secretary to the Treasury by Johnson in 2019. In 2020, Sunak was promoted to Chancellor of the Exchequer. During his time in the position , Sunak was prominent in the government's financial response to the COVID-19 pandemic and its economic impact , including the furlough and Eat Out to Help Out schemes, and was also prominent in the government's response to

5548-469: Was elected prime minister in part to fix them: I will place economic stability and confidence at the heart of this government’s agenda. I will unite our country, not with words, but with action. I will work day in and day out to deliver for you. This government will have integrity, professionalism and accountability at every level. Trust is earned. And I will earn yours. Sunak selected his cabinet ministers after his appointment as prime minister. Jeremy Hunt

5624-404: Was eliminated in the second round of voting. Sunak was re-elected at the 2017 general election with an increased majority of 23,108 (40.5%). In the same year, Sunak wrote a paper for Policy Exchange on the importance and fragility of the UK's undersea infrastructure. Sunak was re-elected at the 2019 general election with an increased majority of 27,210 (47.2%). Following boundary changes in

5700-497: Was estimated at £14 billion a month to run. The furlough scheme initially ran for three months and was backdated to 1 March. Following a three-week extension of the countrywide lockdown the scheme was extended by Sunak until the end of June 2020. At the end of May, Sunak extended the scheme until the end of October 2020. The decision to extend the job retention scheme was made to avoid or defer mass redundancies, company bankruptcies and potential unemployment levels not seen since

5776-618: Was succeeded as chancellor by Nadhim Zahawi . Following the resignations of Sunak and Javid, numerous junior ministers and among the parliamentary private secretary (PPS) also resigned, most of whom cited a lack of honesty and integrity on the part of Johnson. In the following 24 hours, 36 MPs resigned from their roles in government and Johnson announced his resignation. In his resignation letter Sunak said: The public rightly expect government to be conducted properly, competently and seriously. I recognise this may be my last ministerial job, but I believe these standards are worth fighting for and that

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