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Sunak enters rich list with £730m fortune amid crippling cost-of-living crisis

RISHI SUNAK and his wife entered The Sunday Times Rich List for the first time today, with a joint £730 million fortune as the Chancellor continues to refuse support for poorer households.

Their appearance on Britain’s wealthiest list adds further weight to claims that the Chancellor does not understand the pain being suffered by the public as food and energy prices continue to soar under the cost-of-living crisis, with inflation hitting a 40-year-high.

Mr Sunak and Akshata Murty were positioned 222nd out of 250 on the Rich List, with the bulk of their fortune driven by Ms Murty’s £690m stake in Infosys.

It is estimated that her non-domiciled status has saved her £20m in taxes on dividends from her share in the Indian IT company, which was founded by her father.

Ms Murty later agreed to pay UK taxes on her worldwide income, while Mr Sunak was cleared of breaching the ministerial code by the Prime Minister’s standards adviser.

The Chancellor is among those in government who have been resisting calls to impose a windfall tax on the massive profits of oil and gas companies to help fund measures to ease the cost of living crisis.

He has also faced demands to cut taxes on lower income households and increase benefits as part of a support package.

Labour MP Richard Burgon told the Star: “While millions face a cost of living emergency, the super-rich are doing very well out of this crisis.

“British billionaires added £150m every single day to their vast fortunes over the last year and now we even have a Chancellor who is one of the richest people in the country.

“These vast sums show that there is huge wealth in our country and there’s no need for anyone to be unable to be struggling to pay their food or energy bills.

“So we need to step up the fight for a wealth tax on the super-rich which could create a huge emergency fund to address many of the problems our communities face.”

Labour MP Zarah Sultana tweeted: “This is the man who is refusing to do more to help struggling families, saying this week ‘the next few months will be tough.’

“This super-rich Chancellor is taking the piss.”

Deputy Prime Minister Dominic Raab praised Mr Sunak’s listing, telling the Times Radio: “Rishi Sunak is a fantastic example of someone who’s been successful in business who’s come in to make a big impact in public service.”

The latest ranking of the richest people in Britain revealed a record 177 billionaires this year.

The 250 richest people in Britain are are collectively worth £710.72 billion, up from 8 per cent from last year.

Sri and Gopi Hinduja, who run Mumbai-based company the Hinduja Group, jump to the top of the list after their wealth grew by more than £11bn to £28.7bn.

Prime Minister Boris Johnson said yesterday that he cannot “magic away” the cost-of-living crisis and promised to use the “firepower” of the government to “put our arms around the people.”

Mr Johnson has said that he has not ruled out a windfall tax but has urged firms to instead invest their soaring profits.

And Downing Street hinted that a decision would be coming “soon.”

But Brexit opportunities minister Jacob Rees-Mogg set out fresh opposition from within the Cabinet, argued it was wrong to raid the “honey pot of business,” further fuelling reports of a division in the government.


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