Rishi Sunak and Akshata Murthy attend a reception to celebrate the British Asian Trust in London. File
Sunak and his Indian wife Akshata Murty, whose father co-founded the IT behemoth Infosys, made the annual list for the first time with their joint £730 million ($911 million) fortune.
The bulk of their wealth is believed to come from Murty’s £690-million stake in Infosys, but Sunak also had a highly lucrative career in finance before entering politics in 2015.
The listing, which started in 1989, this year estimates the minimum wealth of Britain’s 250 richest people or families, and features far fewer Russian billionaires due to Western sanctions following the invasion of Ukraine.
Sunak’s inclusion comes a month after it was revealed that his wife was sheltered from paying tax on foreign earnings to his Treasury department after claiming so-called non-domiciled status.
The “non-dom” scheme has become controversial in recent years, particularly now that Britons face tax rises and the cost-of-living crisis, with some opposition parties calling for its abolition.
It has been estimated Murty’s non-dom status could have saved her £20 million in taxes on dividends from her shares in Infosys.
Soon after the revelations emerged, she announced she would start paying UK tax on “all worldwide income,” noting that she did not want her tax affairs to be a “distraction” for her husband.
Sunak has also faced persistent criticism for doing too little to help hard-pressed Britons as his once-rosy prospects of succeeding Prime Minister Boris Johnson have ebbed rapidly.
Critics have accused him of hypocrisy for raising taxes on people as various prices surge, while his own family has seen millions of pounds in Infosys dividends shielded from his own Exchequer.
Just this week, he warned in a keynote speech to business leaders that Britons faced a “tough” few months ahead, with inflation confirmed as the highest rate in decades at nine percent.
Airports across Europe have struggled in the past week to cope with a rebound in demand, with British airports in particular facing chaos as a school half-term holiday coincided with the Platinum Jubilee holiday weekend.
Rishi Sunak’s spring statement has been widely attacked as offering no help to the millions of people struggling with what has become known as the cost of living crisis. So much so, that even the Tory ultra-loyalists of the Daily Express felt moved
The chancellor Rishi Sunak is today expected to announce that he will bow to pressure, mostly from the Labour party, and offer households an energy bills rebate through a windfall tax. It is a bit like going to A&E and being told you’ll finally get a
Culture Secretary Nadine Dorries, a Boris Johnson loyalist, has accused Sunak’s team of trying to “siphon off” votes to ensure Jeremy Hunt got through because they believed Sunak would beat him in a final vote.
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