Rise to Success: Career Highlights of Rishi Sunak
How Rishi Sunak built a successful career. Explore key moments that defined the journey.
Rishi Sunak is a British politician who served as Prime Minister of the United Kingdom from 2022 to 2024. He also served as Leader of the Conservative Party during the same period, subsequently becoming Leader of the Opposition following the 2024 election defeat to the Labour Party. Prior to becoming Prime Minister, he was Chancellor of the Exchequer from 2020 to 2022 under Boris Johnson. He has been the Member of Parliament (MP) for Richmond and Northallerton since 2015.
1974: First Chancellor to raise the corporation tax rate since Labour's Denis Healey in 1974.
Sunak was the first Chancellor to raise the corporation tax rate since Labour's Denis Healey in 1974.
2001: Joined Goldman Sachs
In 2001, Rishi Sunak started working as an analyst for the investment bank Goldman Sachs.
September 2006: Partner at TCI
In September 2006, Rishi Sunak became a partner at The Children's Investment Fund Management (TCI).
October 2010: Launched Theleme Partners
In October 2010, Rishi Sunak launched Theleme Partners, a new hedge fund firm, with former colleagues.
2013: Director of Catamaran Ventures
From 2013, Rishi Sunak was a director of the investment firm Catamaran Ventures.
October 2014: Conservative Candidate Selection
In October 2014, Rishi Sunak was selected as the Conservative candidate for Richmond (Yorks), a seat previously held by William Hague.
2015: Stepped down from Catamaran Ventures
In 2015, Rishi Sunak stepped down from Catamaran Ventures.
2015: Elected as MP
In 2015, Rishi Sunak was elected as the Member of Parliament (MP) for Richmond (Yorks).
2015: Election to the House of Commons
In 2015, Rishi Sunak was elected to the House of Commons.
2016: Brexit Support and Think Tank Reports
In 2016, Rishi Sunak supported the campaign to leave the European Union and criticized the EU's immigration laws. Also in 2016, he wrote a report for the Centre for Policy Studies advocating for free ports after Brexit.
2016: Supported Brexit Campaign
In 2016, as a backbencher, Rishi Sunak supported the successful campaign for Brexit in the European Union membership referendum.
2017: Re-election and Infrastructure Paper
In 2017, Rishi Sunak was re-elected at the general election with an increased majority. In the same year, Sunak wrote a paper for Policy Exchange on the importance and fragility of the UK's undersea infrastructure.
2018: Appointed Parliamentary Under-Secretary
In 2018, Rishi Sunak was appointed as Parliamentary Under-Secretary of State for Local Government in May's second government.
2019: Support for Boris Johnson
In 2019, Rishi Sunak supported Boris Johnson's bid to succeed May in the Conservative Party leadership election.
2019: Appointed Chief Secretary to the Treasury
In 2019, Rishi Sunak was appointed Chief Secretary to the Treasury by Boris Johnson and became a member of the Privy Council the next day.
2019: Appointment to Junior Ministerial and Cabinet Roles
In 2019, Rishi Sunak was appointed to the junior ministerial position of Parliamentary Under-Secretary of State for Local Government by Theresa May and later appointed as Chief Secretary to the Treasury by Boris Johnson.
2019: Re-election
In 2019, Rishi Sunak was re-elected at the general election with an increased majority.
February 2020: Appointed Chancellor of the Exchequer
In February 2020, Rishi Sunak was promoted to Chancellor of the Exchequer after Sajid Javid resigned.
February 2020: Rumors of Economic Ministry
In February 2020, there were briefings suggesting a new economic ministry led by Sunak might be established, though Javid remained Chancellor.
March 2020: Introduction of Emergency Support and Furlough Scheme
In March 2020, Rishi Sunak introduced a program providing £330 billion in emergency support for businesses, as well as the Coronavirus Job Retention furlough scheme for employees, providing grants to employers to pay 80% of a staff wage and employment costs each month, up to a total of £2,500 per person per month.
March 2020: First Budget
On 11 March 2020, Rishi Sunak presented his first budget, Delivering on Our Promises to the British People.
July 2020: Unveiling of Further Spending Plan
In July 2020, Rishi Sunak unveiled a plan for a further £30 billion of spending including a stamp duty holiday, a cut to value-added tax (VAT) for the hospitality sector, a job retention bonus for employers and the Eat Out to Help Out scheme.
July 2020: Summer Statement (Coronavirus Mini-Budget)
On 8 July 2020, Rishi Sunak delivered the July 2020 summer statement to announce measures aimed at helping to promote economic recovery following the impact of the COVID-19 pandemic. Concerns were subsequently raised by organisations about the statement's impact and its cost-effectiveness.
September 2020: Highest satisfaction score of any British chancellor since 1978
In September 2020, Rishi Sunak achieved the highest satisfaction score of any British chancellor since Denis Healey in April 1978, according to an Ipsos MORI poll, also becoming a favorite to become the next Conservative leader.
September 2020: Winter Economy Plan
On 24 September 2020, Rishi Sunak delivered the Winter Economy Plan to promote economic recovery following the impact of COVID-19.
October 2020: Second Lockdown in England
After a second lockdown in England on 31 October 2020, the Winter Economy Plan was extended several times.
2020: Chancellor of the Exchequer
In 2020, Rishi Sunak was appointed Chancellor of the Exchequer under Boris Johnson.
2020: Promotion to Chancellor of the Exchequer
In 2020, Rishi Sunak was promoted to Chancellor of the Exchequer.
March 2021: March 2021 Budget
In his March 2021 budget, Rishi Sunak emphasized the effect the COVID-19 pandemic has had on the economy. The budget included an increase in the rate of corporation tax from 19% to 25% in 2023, and the extension of the furlough scheme until the end of September.
June 2021: G7 Summit Hosted
In June 2021, Rishi Sunak hosted a G7 summit in London. A tax reform agreement was signed, which sought to establish a global minimum tax on multinationals and online technology companies.
September 2021: End of Winter Economy Plan
The Winter Economy Plan was extended several times until 30 September 2021.
October 2021: Third and Final Budget Statement
In October 2021, Rishi Sunak made his third and final budget statement, which included substantial spending promises related to science and education.
October 2021: OECD Accord
In October 2021, the OECD signed an accord to join the tax reform plan initiated at the G7 summit hosted by Sunak in June 2021.
March 2022: Spring Statement
On 23 March 2022, Rishi Sunak made his spring statement. He cut fuel duty, removed VAT on energy saving equipment and reduced national insurance payments for small businesses. He also promised a reduction in income tax in 2024.
May 2022: Response to Cost of Living Crisis
In May 2022, Rishi Sunak intensified efforts to respond to the rising cost of living and energy crises with a £5 billion windfall tax on energy companies to fund a £15 billion support package.
July 2022: Sunak's approval ratings slightly recovered after resignation
By the time Rishi Sunak resigned as chancellor in July 2022, his approval ratings had slightly recovered after a period of decline.
July 2022: Sunak Announces Leadership Candidacy
In July 2022, Rishi Sunak announced his candidacy for the leadership election to replace Johnson. He launched his campaign with pledges to restore trust, rebuild the economy, and reunite the country, emphasizing patriotism, fairness, and hard work. Sunak also outlined policy proposals including tax cuts when inflation is under control and a temporary fine for missed GP appointments.
July 2022: Resignation as Chancellor
In July 2022, Rishi Sunak resigned as Chancellor amid a government crisis.
October 2022: Sunak Loses Leadership Vote, Later Becomes Prime Minister
In October 2022, Liz Truss won the membership vote, becoming the new leader, while Sunak offered his support. Later that month, after Truss's resignation, Sunak declared his candidacy and secured enough supporters to run. Following Johnson's withdrawal and Mordaunt's withdrawal from the race, Sunak was announced as the new leader on October 24.
October 2022: Leader of the Conservative Party
In October 2022, Rishi Sunak became the Leader of the Conservative Party.
October 2022: Sunak's favourability increased after becoming prime minister
In October 2022, following his appointment as prime minister, Rishi Sunak's personal favourability ratings experienced an increase.
October 2022: Sunaks resumed residence of their former official home
In October 2022, the Sunaks resumed residence of their former official home at 10 Downing Street, with Rishi Sunak now serving as prime minister.
October 2022: Sunak Appointed Prime Minister
On October 25, 2022, Rishi Sunak was appointed as Prime Minister by Charles III, becoming the first British Asian to hold the office. At 42, he became the youngest prime minister since 1812. In his first speech, Sunak acknowledged Truss's ambition for growth but admitted mistakes were made and that he was elected to fix them.
December 2022: Forsyth appointed as Sunak's political secretary
In December 2022, Rishi Sunak appointed James Forsyth, The Spectator's former political editor and a close friend since their school days, as his political secretary.
February 2023: Sunak's First Cabinet Reshuffle
In February 2023, Sunak conducted his first cabinet reshuffle, restructuring government departments and creating new ones such as the Department for Business and Trade and the Department for Energy Security and Net Zero. Greg Hands replaced Nadhim Zahawi as chairman.
February 2023: Negotiated Windsor Framework
In February 2023, Sunak negotiated a proposed agreement with the EU on Northern Ireland's trading arrangements, published as the Windsor Framework. On 27 February, Sunak said that the proposed agreement "protects Northern Ireland's place in our Union."
April 2023: Dowden Replaces Raab as Deputy Prime Minister
In April 2023, Oliver Dowden replaced Dominic Raab as Deputy Prime Minister and Justice Secretary. This occurred after Sunak selected his initial cabinet ministers upon becoming Prime Minister.
November 2023: Sunak's Last Cabinet Reshuffle
In November 2023, Sunak performed his last cabinet reshuffle, which included the return of David Cameron as foreign secretary, the departures of Braverman and Coffey from government, and the appointment of Laura Trott as Chief Secretary to the Treasury.
2023: Poor Performance in Local Elections
In 2023, the Conservative Party had poor performances in the local elections.
2023: Theleme Partners equivalent value in 2023
In October 2010, Rishi Sunak launched Theleme Partners, a new hedge fund firm, with former colleagues with $700 million under management (equivalent to $978 million in 2023)
2023: Corporation Tax Increase
In his March 2021 budget, Sunak emphasized the effect the COVID-19 pandemic has had on the economy, with a corporation tax increase from 19% to 25% planned for 2023.
January 2024: Sunak Visits Ukraine, Signs Security Agreement
On January 12, 2024, Sunak visited Ukraine and signed a new U.K.-Ukraine Agreement on Security Cooperation with Zelenskyy, promising £2.5 billion in military aid, including drones, making the UK the largest deliverer of drones to Ukraine out of any nation.
May 2024: Sunak Calls General Election for July 4
On May 22, 2024, Sunak announced that he had asked the King to call a general election for July 4, 2024. Sunak cited improvements in the economy as the reason for calling the election.
June 2024: Sunak Campaigns on Economy, Rwanda Plan, and National Service
In June 2024, Sunak campaigned to rebuild the Conservative's reputation, focusing on stabilizing the economy and introducing National Service. He released the Conservative manifesto Clear Plan. Bold Action. Secure Future. during the general election.
July 2024: Conservative Party lost election
In July 2024, the Conservative Party, led by Rishi Sunak, lost the general election to the Labour Party.
July 2024: General Election Called
On May 22, 2024, Sunak announced that he had asked the King to call a general election for July 4, 2024. Sunak cited improvements in the economy as the reason for calling the election.
November 2024: End of Premiership and Leadership
In November 2024, Rishi Sunak's time as Prime Minister and Leader of the Conservative Party ended.
December 2024: Option to Call General Election
On May 22, 2024, Sunak announced that he had asked the King to call a general election for July 4, 2024, even though he had the option to wait until December 2024 to call the election.
2024: Sunak Returns to Backbenches
In 2024, Sunak remained leader until his successor, Kemi Badenoch, was elected in the 2024 Conservative Party leadership election, after which he returned to the backbenches.
2024: Won seat of Richmond and Northallerton
In 2024, following boundary changes, Rishi Sunak won the seat of Richmond and Northallerton with a majority of 23,059 (51.4%).
2024: Sunak's Shadow Cabinet
In 2024, most members of Sunak's cabinet were given the same portfolios in the shadow cabinet.
2024: Income Tax Reduction Promised
In March 2022, Rishi Sunak made his spring statement. He promised a reduction in income tax in 2024.
January 2025: Visiting Fellow at Hoover Institution
In January 2025, Rishi Sunak became a visiting fellow at the Hoover Institution of Stanford University and signed as an exclusive speaker with the Washington Speakers Bureau.
