Rishi Sunak made a mark on history by becoming the United Kingdom's youngest and first Asian prime minister. But he confronts huge hurdles in the economy and politics.
Domestic problems like the cost of living crisis, continuing strikes by employees demanding more pay, Brexit, backlogs in the NHS, and so many other difficulties are the daunting problems that Sunak, the son of Indian immigrants, faces. Moreover, there are numerous global problems to be addressed by the UK Prime Minister 2022.
Rishi Sunak's Salary as UK's Prime Minister
The Sunak,42, will face one of the worst inflation crises in modern history. The current inflation rates of 10.1% are the highest the country has experienced in 40 years, putting significant pressure on family budgets. For all the pressure put on the shoulders of Rishi Sunak, one may wonder how much is UK Prime Minister Salary.
The Prime Minister's income puts him in the top one percent of earners in the United Kingdom. Comparatively, the median take-home compensation of the Chief Executives of the UK's top FTSE 100 companies is predicted at £3.61 million ($4.4 million) per year in 2020, while the Prime Minister's compensation is less than a tenth of that amount.
The yearly UK Prime Minister Salary is about £164,080 ($187,000), according to National World. PM Sunak, a member of Parliament for North Yorkshire's Richmond district, is eligible for an annual stipend of up to £115,000 ($131,695) known as Public Duty Cost Allowance (PDCA).
The PDCA was established by John Major in 1991 due to Margaret Thatcher's struggles to keep up with continuous administrative demands after her retirement. Politics.co reports that the UK Prime Minister Salary significantly greater than the ONS UK average earnings of £31,285 ($35,853) but lower than that of other international leaders.
Compared to the salaries of the president of the United States ($400,000) and the president of the European Commission ($405,000), the prime minister of the United Kingdom receives just half.
The salary amount is also less than half of what the prime minister of Canada makes ($267,041), and a lot less than the $369,727 the chancellor of Germany takes home each year. According to Metro, the Independent Parliamentary Standards Authority determines how much MPs are compensated. After the expenses scandal of 2010, the IPSA took over the administration of parliamentary expenditures.
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Rishi Sunak's Wealth
It is unlikely that the amount of Rishi Sunak Salary would be a big issue for he is one rich person. The combined fortune of Rishi Sunak and his wife, Akshata Murthy, is estimated to be £730 million ($836 million). Thanks to their success in the "technology and hedge fund" enterprises, as per an earlier report by HNGN.
Before entering politics, Sunak worked as an analyst for Goldman Sachs from 2001 to 2004 and was a partner at two incredibly successful hedge funds. According to The Sunday Times, Sunak attained multi-millionaire status during his mid-20s.
In addition to his global business holdings, Sunak is the proud owner of four residences that total more than $17 million. The UK Prime Minister 2022 is the richest member of parliament and maybe the richest individual to ever occupy the House of Commons or 10 Downing Street.
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