Rishi Sunak has resigned along with health secretary Sajid Javid from his current position as Chancellor of the Exchequer.
In October 2014, Sunak was chosen as the Conservative candidate for Richmond (Yorks). William Hague, a former party leader, foreign secretary, and first secretary of state had previously held the position but decided to resign at the subsequent general election.
On July 24, 2019, Prime Minister Boris Johnson named Sunak as the Chief Secretary to the Treasury, reporting to Chancellor Sajid Javid. The following day, he was admitted to the Privy Council.
Who Is Replacing Rishi Sunak? Is It Rachel Reeves?
Following the resignation of Rishi Sunak, Rachel Reeves's name came forward as his replacement.
Since 2021, she has held the position of Shadow Chancellor of the Exchequer. She is a British politician and economist. She has served as Leeds West's representative in parliament since 2010 and is a member of the Labour Party.
Minutes thereafter, Sunak released his letter of resignation, in which he stated: "I am unhappy to be leaving government, but I have reluctantly concluded we cannot continue like this," according to The Guardian.com.
There is no confirmation on Rachel Reeves replacing Sunak. The two were having commotion over the past few months. After Sunak's resignation, she posted yet another grudge she has against him as a Chancellor.
Her post reads, "Rishi Sunak, Sajid Javid, and every Tory MP who propped up this corrupt PM are responsible for his failures. They should've resigned months ago."
She further added that the truth is the Tory Party is incapable of fixing the challenges the country faces.
The resignations of Sunak and Javid, who were both viewed as potential future leaders, came at a time when the prime minister was in grave danger.
Several cabinet members, including Liz Truss, Ben Wallace, Dominic Raab, and Priti Patel, were told by sources close to them that they would be staying in their positions, but rumors spread throughout Westminster that additional members might resign in the near future.
Here Is Rishi Sunak Resignation Reason
Rishi Sunak's apparent coordinated resignation from the government cast doubt on the future of the prime minister.
Despite finally acknowledging that he knew Chris Pincher had engaged in inappropriate behavior in 2019, Boris Johnson apologized for naming Pincher as deputy chief whip on Tuesday evening.
Sunak stated in his resignation letters that there was a lack of control in Downing Street and that the general populace expected government to be run "fully, competently, and seriously."
What Is Rishi Sunak Net Worth 2022?
Rishi Sunak's estimated net worth is £200 million according to Filmy Siyappa. However, together with his wife, his fortune is estimated to be £720 million based on Politics.uk.com.
Due to his prior work as a banker and marriage to Ms. Murty, the daughter of one of India's most prosperous business people, the Chancellor is thought to be the wealthiest member of the House of Commons.
Mr. Sunak formerly worked for the US financial bank Goldman Sachs before entering politics. He later transitioned towards managing hedge funds and eventually established his own company, Theleme Partners, in 2010.
After being appointed chief secretary to the Treasury by former Chancellor Sajid Javid, he created a blind trust in July 2019. It is thought to hold a multi-million-pound fortune.