London Daily

Focus on the big picture.
Thursday, Oct 29, 2026

U.K. finance minister Sunak wins praise for staying calm in a crisis

U.K. finance minister Sunak wins praise for staying calm in a crisis

While he has been dubbed "Dishy Rishi" by tabloids and benefits from a slick social media brand, Sunak's in-tray is bursting with unprecedented challenges.


Britain's Prime Minister Boris Johnson and Chancellor Rishi Sunak visit a pizza restaurant in London in June. Some political commentators are tipping Sunak to succeed Johnson, who many believe has fumbled the response to the pandemic.

It's been a tough year for front-line politicians in Britain. Few have impressed as the country battles a rampant coronavirus outbreak and continues its never-ending Brexit saga.

Except, that is, for Rishi Sunak.

The young, well-dressed finance minister was little known until recently, and only entered Parliament in 2015. On Wednesday, he will again make headlines outlining his updated economic forecast for the coronavirus-battered country.

Sunak has already pledged over 200 billion pounds ($267.56 billion) to fight the Covid-19 crisis and is due to announce extra investment to ease pressure on the health service and counter a surge in unemployment.

But the relatively inexperienced former banker, who has Indian roots, has been thrust into the spotlight as one of the country's most powerful politicians.

Now, mutterings are growing louder — could Sunak become Britain's first nonwhite prime minister? Commentators at home and abroad have said it could happen.

A recent opinion poll showed Sunak was the most popular figure among rank-and-file members of the ruling Conservative Party. The same poll gave Prime Minister Boris Johnson an approval rating of minus 10 percent.

He's been dubbed "Dishy Rishi" by tabloids, thanks to his charismatic presentations and slick social media accounts, where he boasts half a million followers.

At 40, he's the second youngest chancellor of the exchequer, the antiquated official title of what is considered the second most important government job.

Many have viewed Sunak as a steady hand during Britain's public health crisis, as criticism grows around Johnson's pandemic response, with the United Kingdom registering the highest Covid-19 deaths in Europe.

The prime minister, who was hospitalized with the coronavirus in April, is currently self-isolating after being exposed to the virus again.

Sunak has acknowledged the role race plays in his political life.

During his debut speech to Parliament representing a seat in Yorkshire, northern England, he joked about constituents commenting on his "tan" being better than that of his white predecessor. Newspapers also nicknamed him the "Maharajah of the Yorkshire Dales."

Sunak has spoken frequently of the debt he owes Britain for taking in his immigrant grandparents and contributing to his path from business to politics, which pundits now say includes a shot at the top job.

Across the Atlantic, the history-making selection of Kamala Harris, who also has Indian heritage, as vice president-elect in Joe Biden's incoming administration, has placed further scrutiny on Sunak's identity and political ambitions.

The killing of George Floyd in Minneapolis in May and subsequent protests led Sunak to speak out on his experiences of racism.

"As a British Asian, of course I know that racism exists in our country," he said in June, recalling how incidents of abuse against him and his siblings while growing up were "particularly upsetting."

The speculation around Sunak's possible rise is all the more surprising as he is a member of Britain's Conservative Party, which has traditionally supported anti-immigration policies and struggled to court ethnic minority voters.

Sunak's ascension reflects a "dramatic generational shift" for the Conservative Party, Sunder Katwala, director of British Future, an immigration think-tank, told NBC News.

Ethnic minority voters overwhelmingly chose the opposition Labour Party in the 2015, 2017 and 2019 elections, according to a poll by Ipsos MORI.

The Conservative Party has at times been home to right-wing firebrands such as Enoch Powell, who in 1968 promised that widespread immigration would lead to "rivers of blood" and division.

Johnson himself came under fire for using an offensive term to describe Black children in a 2002 newspaper column about a trip by former Prime Minister Tony Blair to the Democratic Republic of Congo. Johnson later apologized, saying his comments were intended "in a wholly satirical way."


Chancellor of the Exchequer Rishi Sunak takes part in a BBC Children In Need and Comic Relief 'Big Night In' on April 23, 2020 in London.


But Katwala, who also has Indian heritage, cautioned that should Sunak become party leader, it would be "simplistic to think that ethnic minority voters will flock to a politician on the basis of shared ethnicity."

Katwala also warned against easy comparisons between Britain and America.

"There won't be a ‘British Obama’ because Britain isn't America," he said, adding that Britain had always been "more familiar with ethnic diversity in leadership positions."

Sunak, a Hindu, took his parliamentary oath on the sacred scripture Bhagavad Gita.

Britain colonized India until 1947 and some there say Sunak's rise might allow the former to atone for its imperial past.

"There's no question that India will rejoice," Indian lawmaker Shashi Tharoor told NBC News. "It's a measure of how much Britain has come of age since those (colonial) days."

Sunak's success would "do Britain an awful lot of good in the eyes of the world and particularly of the brown and Black world," Tharoor added.

While race is a hot-button issue in multicultural Britain, Sunak's emergence also touches on another social fault line: class.

Two-thirds of ministers in Eton-educated Johnson's Cabinet attended private schools. Sunak, the oldest of three siblings, was headboy at the prestigious Winchester College, an elite all-boys boarding school founded in 1382, with the motto "Manners Makyth Man."

Government figures show just 7 percent of children in the U.K. attend private schools.

Sunak then followed a well-trodden path to Oxford University to study philosophy, politics and economics, a degree popular among those with an eye on a political future.

Then followed an MBA at Stanford University in California, as a Fulbright scholar, before jobs with the investment bank Goldman Sachs and hedge funds in London, then the seat in Parliament in 2015.

His financial background has propelled Sunak to be among the wealthiest members of Johnson's Cabinet, in part also due to his 2009 marriage to Akshata Murthy — her billionaire father, N.R. Narayana Murthy, founded the Indian tech giant Infosys.

Despite his wealth and privilege, some say Sunak still has the common touch.

The "Star Wars" fan posts pictures of his pets, two daughters and financial initiatives on social media, often with pithy catchphrases, emblazoned with his signature.


Johnson's government faces another potential crisis in the shape of the country's tortuous exit from the European Union.

Like almost all of Johnson's Cabinet, Sunak is a keen supporter of Brexit and campaigned to leave the E.U. in the 2016 referendum.

During the acrimonious 2016 campaign, Sunak kept a relatively low profile but as a smooth press performer represented the government's "leave" position on television and the airwaves.

But the future is far from plain sailing for Sunak.

He has already taken state borrowing to unprecedented levels, spending about 391 billion pounds ($505 billion) so far to bail out businesses and pay furloughed workers' salaries — more than half the total government spending in 2016-17.

As a share of the economy, this will be the highest borrowing since World War Two, as Sunak prepares to lay-out updated economic forecasts for the country on Wednesday.

Analysts say he has little choice but to raise taxes — a huge turnoff for Conservative voters.

And he will have to navigate the financial implications of Brexit when the U.K. finally stops following the shared trade rules with the E.U. on Jan. 1.

Carl Emmerson, deputy director of the London-based Institute for Fiscal Studies, said Sunak's furlough program, which has paid 9 million Britons 80 percent of their salary during the pandemic, was a "smart policy," and had likely stopped unemployment from becoming "astronomical."

Amid England's second national lockdown the scheme has been extended until March, meaning "the more difficult calls might be yet to come," warned Emmerson. "Chancellors putting up taxes might find it less easy to be popular."

The finance ministry declined NBC News' requests for an interview with Sunak.


Britain's Chancellor of the Exchequer Rishi Sunak leaves Downing Street in London in July.


Johnson for years denied having ambitions for No. 10 Downing Street, once describing such rumors as "cobblers" meaning nonsense. He became PM in July 2019.

If Sunak does see himself as a future premier, he is opting for the same low-key strategy.

Asked by a radio presenter in August if the pandemic had dampened his hopes of becoming prime minister, Sunak chuckled and replied with British reticence: "Oh gosh, I don't have that desire."

Newsletter

Related Articles

0:00
0:00
Close
Met Office Issues Extended Forecast Highlighting Stable High Pressure Weather Patterns Across the United Kingdom
Scottish Finance Secretary Shona Robison Outlines Changes to Tax Thresholds and Residential Property Levies in Edinburgh
Financial Markets and Government Bond Yields Remain Stable Following Muted Reaction to Autumn Budget Measures
Defence Committee Chair Tan Dhesi Criticizes Budget for Delaying Critical Defence Spending Decisions to Next Year
International Monetary Fund Forecasts United Kingdom Economic Growth at One Point Three Percent for Year
Office for Budget Responsibility Assesses Fiscal Headroom Reduced to Fifteen Billion Pounds Following Global Energy Shocks
Chancellor John Healey Delivers First Autumn Budget Introducing Household Energy Support and Bank Tax Hikes
Aberdeen City Council Co-Leader Faces Binding Vote Challenge as Local Councillors Launch High Court Legal Battle
Housebuilding Across Scotland Falls to Eleven-Year Low Despite Government Declarations of a Housing Emergency
Former Prime Minister Gordon Brown Organizes National Innovation Summit in Manchester to Boost Regional Competitiveness
UK Government Faces Mounting Criticism Over Lack of Environmental Consultation During Artificial Intelligence Datacentre Expansion Talks
Greggs Announces Closure of Four Major Manufacturing Facilities Across Britain Resulting in Seven Hundred Forty Job Losses
British Retail Consortium Warns That Cumulative Employment and Regulatory Costs Threaten High Street Price Stability
Lloyds Banking Group Chief Executive Charlie Nunn Warns That Increased Bank Taxes Could Deter Long-Term Economic Investment
Ipsos Polling Reveals Seven in Ten Britons Expect Personal Tax Increases Amid Deep Public Economic Pessimism
Chancellor John Healey Delivers First Autumn Budget in Parliament Amid Tight Fiscal Constraints and Slower Growth Forecasts
United Kingdom Finance Monthly Review Highlights Rising Long-Term Borrowing Costs and Persistent Energy Price Pressures Across British Markets
Royal Marines Pioneer Rapid Autonomous Drone Operations During Major High North Exercise Involving NATO Allies
House of Commons Justice Committee Urges Chancellor to Align Prison and Courts Reform Ambitions With Concrete Budgetary Resources
Government Investigates Rapid Artificial Intelligence Datacentre Expansion Strategy Following Scrutiny Over Power Grid Demands and Planning Backlogs
His Majesty's Inspectorate of Constabulary Warns Third-Party Supplier Breaches Threaten United Kingdom Police and Fire Service Data
Number of British Businesses in Financial Distress Reaches Highest Level in Two Decades Ahead of Fiscal Announcement
Chancellor John Healey Prepares Autumn Budget Amid Intense Market Scrutiny Over Fiscal Headroom and Spending Pressures
Education or Indoctrination? The Growing Debate Over Religious Participation in British Schools
Germany's Vanishing Shopfronts: The Silent Collapse of the Businesses That Built Its Cities
Northern Ireland Executive Reaches Agreement on Public Transport Modernization and Cross-Border Rail Infrastructure Funding
Department for Energy Security and Net Zero Approves New North Sea Carbon Capture and Storage Industrial Clusters
Office for National Statistics Reports Stabilization in Private Rental Growth Across Major English and Welsh Regional Cities
United Kingdom Automotive Manufacturing Output Rises Moderately as Electric Vehicle Assembly Lines Expand in the Midlands
Competition and Markets Authority Launches Formal Inquiry Into Cloud Computing Infrastructure and Artificial Intelligence Partnerships
Scottish Government Finalizes Emergency Budget Adjustments Following Multi-Year Public Sector Funding Shortfalls
National Health Service England Announces Major Emergency Care Overhaul to Alleviate Severe Winter Capacity Pressures
Chancellor Rachel Reeves Prepares Autumn Budget Amid Intensifying Scrutiny Over Public Spending and Fiscal Rules
Bank of England Signals Cautious Approach to Further Interest Rate Cuts as Persistent Wage Growth and Inflation Pressures Remain
Transport for London Unveils Expanded Zero-Emission Bus Fleet to Meet Capital Air Quality Targets
Higher Education Institutions Face Deepening Financial Strain Amid Declining International Student Enrolment
Automotive Industry Leaders Criticize Government Tax Policies and Urge Action on Retail Consumer Confidence
Environment Agency Issues Flood Alerts Across Scottish and English Waterways Following Heavy Rainfall
Independent Audit Highlights Persistent Security Vulnerabilities Across Legacy Government Digital Portals
Northern Ireland Political Leaders Clash Over Westminster Funding Allocations Ahead of Autumn Budget
Ethnic Minorities in England Face Significant Disparities in Routine Breast Cancer Diagnosis Rates
National Police Chiefs Report Alarming Surge in Domestic Abuse Cases Fuelled by Expanding Illegal Cocaine Market
Government Announces Two Hundred and Twenty Million Pound Pothole Funding Boost for Local Highway Authorities
China Issues Formal Warning Over Potential United Kingdom Restrictions on Chinese Electric Vehicles
British Defence Ministers Sign E5 Pact to Enhance European Military Capabilities and Industrial Cooperation Within NATO
United Kingdom Business Activity Expands at Fastest Pace in Eight Months According to S&P Global Flash Survey
Chancellor John Healey Prepares Major Devolution Package and Bank Profit Surcharge Ahead of Upcoming Autumn Budget
National Health Service Consultants in England Announce Two-Day Strike Action Scheduled for November
Major Clean-Up Under Way Across Britain Following Destruction Caused by Consecutive Storms Austen and Boelo
KEY TRENDS TO WATCH
×