Rishi Sunak takes charge as British PM; is youngest in 210 years

Rishi Sunak is now formally the British Prime Minister—the first of Indian origin. On Tuesday, Britain’s King Charles III invited him to form a government after accepting the resignation of Liz Truss. Shortly after leaving Buckingham Palace, Sunak gave his first speech as the British PM.

With this, Sunak has added several firsts to his name. He is the UK’s first British PM of Indian origin. He also became the country’s first leader of colour after being chosen to lead the Conservative Party on Diwali evening (Monday). Plus, at 42, Sunak becomes the youngest UK PM since 1812.

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The BBC reported that Sunak is the UK’s youngest Prime Minister since Lord Liverpool came to office in 1812. He also went the fastest from being first elected as an MP to becoming PM in modern times. It took him only seven years, the BBC reported.

“Humbled and honoured”

Sunak comes from a Punjabi Khatri family. His paternal grandfather moved to Africa from Gujranwala before Independence. Gujranwala is now in Pakistan’s Punjab province. Later, Sunak’s father moved to the UK.

Sunak on Monday won the Conservative Party leadership race by default, as his competitors, former prime minister Boris Johnson and House of Commons leader Penny Mordaunt, stood aside. In his first address as Tory leader soon after the result was declared on Monday, the 42-year-old investment-banker-turned politician said his priority would be to bring the country together.

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He said he was “humbled and honoured to get the greatest privilege” of his life to “give back to the country” he “owed so much.” Referring to the economic turmoil he has inherited from his predecessor Liz Truss’s disastrous tax-cutting mini-Budget last month, Sunak said, “The UK is a great country, but there is no doubt we face a profound economic challenge.”

Tough task ahead

Sunak will be moving into 10, Downing Street at a time when Britain’s economy is facing a triple whammy. He has to deal with slowing growth, high inflation triggered by spiralling energy prices in the wake of the Ukraine war, and a budget shortfall that has eroded its financial credibility internationally.

Sunak’s first task will be to restore Britain’s international financial credibility after outgoing leader Truss’s plan for unfunded tax cuts and a costly energy price guarantee spooked the bond market. He will have no option but to raise tax rates and make spending cuts that will be unpopular and may have unforeseen political consequences.

(With agency inputs)