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☆ John Oliver was right — the Conservative Party just faced an epic wipeout at the polls
▼ + stars: | 2024-07-05 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

Read previewIt's not quite the "extinction-level event for the Tories" that John Oliver predicted, but the Conservative Party did suffer a bitter defeat in Thursday's UK general election. This story is available exclusively to Business Insider subscribers. At the July 4 polls, the Conservative Party suffered a massive defeat at the hands of its rivals, Labour. UK Prime Minister and Conservative Party leader Sunak conceded defeat to Labour leader Kier Starmer early Friday morning. Representatives for Oliver did not immediately respond to a request for comment from Business Insider sent outside regular business hours.

Persons: —, John Oliver, Oliver, that's, Brexit, David Cameron, Theresa May, Boris Johnson, Liz Truss, Rishi Sunak, weirdos, Conservatives who've, Sunak, Kier Starmer Organizations: Service, Conservative Party, Thursday's, Business, Tories, Conservative, Conservatives, Labour, Prime, Business Insider Locations: Britain

☆ Betting scandal inside the UK's ruling Conservative Party mars election race
▼ + stars: | 2024-06-24 | by ( April Roach | ) www.cnbc.com time to read: +2 min

LONDON — Britain's ruling Conservative party has become embroiled in a scandal concerning allegations that senior officials used inside knowledge to win bets on the date of the general election. Nick Mason, chief data officer for the Conservative Party, is the latest Tory official to be probed by the Gambling Commission, according to a report in The Sunday Times. CNBC was unable to immediately confirm this and the Conservative Party has not yet responded to a request for comment. Conservative MP for Montgomeryshire Craig Williams, who is also a close aide to the prime minister, was the first to face questions regarding a bet on the election date. The Conservative Party's campaign director Tony Lee, and his wife, Laura Saunders — the party's candidate in Bristol North West — are also being looked into by the Gambling Commission.

Persons: Rishi Sunak, Sunak, Nick Mason, Sunday Times . Mason, Montgomeryshire Craig Williams, Williams, Tony Lee, Laura Saunders —, Lee, Saunders Organizations: Conservative, Conservative Party, Tory, Gambling, Sunday Times, British, CNBC, Montgomeryshire, Bristol North, Commission, Independent, Metropolitan Police, Professional, Independent Office, Police

☆ UK's Rishi Sunak announces election pledges, looking to bounce back from D-Day gaffe
▼ + stars: | 2024-06-11 | by ( ) www.cnbc.com time to read: +1 min

British Prime Minister Rishi Sunak attends a Conservative party rally, after he called for a general election, in London, Britain, May 22, 2024. LONDON — British Prime Minister Rishi Sunak released his Conservative Party's official election manifesto on Tuesday, announcing help for first-time home buyers and promising more tax cuts. The pledges come as the Conservatives look set for a drubbing to the rival Labour party at the July 4 General Election, while Sunak has personally come under fire several times during the campaign. Sunak and Labour leader Keir Starmer are both forefronting economic growth, the cost of living and taxes in their campaign messaging. Polls have for some time been pointing toward a Labour victory in a General Election after the Conservatives' ratings tanked following a series of scandals under former Prime Minister Boris Johnson's tenure.

Persons: Rishi Sunak, Sunak, Insurance —, Keir Starmer, Boris Johnson's Organizations: British, Conservative, LONDON, Labour, Insurance, Conservatives Locations: London, Britain, France

☆ Labour opposition deals another historic blow to UK PM Rishi Sunak with by-election defeats
▼ + stars: | 2024-02-16 | by ( Elliot Smith | ) www.cnbc.com time to read: +4 min

Winning candidate Gen Kitchen said the result was a "stunning victory for the Labour Party and must send a message from Northamptonshire to Downing Street." LONDON — U.K. Prime Minister Rishi Sunak's ruling Conservative Party suffered another double by-election defeat on Thursday, as the opposition Labour Party's momentum shows no sign of slowing. The double defeat of Thursday was the latest in a string of unfavorable by-election results for the ruling party in what were previously considered safe seats. "I was very pleased last night to see that we were clearly getting Tory switchers, in other words people who hadn't voted for the Labour Party before, coming out last night and voting for the Labour Party in a by-election." The Labour Party maintains a lead of more than 20 points over the Conservatives in all national polling, with a general election due no later than January 2025.

Persons: Kitchen, Peter Bone, —, Rishi Sunak's, Helen Harrison, Gen Kitchen, Chris Skidmore, Damien Egan, Keir Starmer, Tory switchers, hadn't, Boris Johnson, Robert Ford Organizations: Labour, Labour Party, Downing, Conservative, Conservatives, LONDON, Conservative Party, Kettering Leisure Village, Tamworth, Liberal Democrats, BBC, University of Manchester, CNBC Locations: Northamptonshire, Wellingborough , Northamptonshire, KETTERING, England, Wellingborough, Kettering, Kettering , England, Kingswood , South Gloucestershire, North, Kingswood, Mid Bedfordshire, West Midlands, Selby, Ainsty, Somerton, Frome

☆ UK's Hunt offers incentives, penalties to get more people into work
▼ + stars: | 2023-11-16 | by ( Andy Bruce | ) www.reuters.com time to read: +3 min

British Chancellor of the Exchequer Jeremy Hunt during Britain's Conservative Party's annual conference in Manchester, Britain, October 2, 2023. The "Back to Work" plan, billed as a way to help people "stay healthy, get off benefits and move into work", will form part of the Autumn Statement that Hunt will present next Wednesday. Anyone choosing to coast on the hard work of taxpayers will lose their benefits," Hunt said of the "Back to Work" plan. "This sort of language just pushes people away – alienating those who could benefit from support, alienating employers and alienating partners like GPs and voluntary services," Wilson said. Labour said Hunt's plan was "more of the same".

Persons: Jeremy Hunt, Toby Melville, Hunt, Tony Wilson, Wilson, Hunt's, Liz Kendall, Andy Bruce, Susan Fenton Organizations: Britain's Conservative, REUTERS, Institute for Employment Studies, Labour Party, Conservative, IES, Labour, Tories, Confederation, Thomson Locations: Manchester, Britain, British

☆ British fiscal headroom an 'illusion' that will not leave room for tax cuts, report says
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Hannah McKay/File Photo Acquire Licensing RightsLONDON, Nov 6 (Reuters) - Extra fiscal headroom as a result of higher inflation is illusory and will not give any space for tax cuts when British Finance Minister Jeremy Hunt gives a fiscal update later this month, a think tank report said on Monday. The Resolution Foundation's analysis said that higher tax receipts and lower borrowing - both a result of sticky inflation - would increase Britain's fiscal headroom by 13 billion pounds ($16.09 billion), but added this was based on "implausible" public spending plans. That higher inflation is affecting public spending. Public spending will also have to increase more than is currently forecast to protect the budgets of some ministries in real terms in the coming years, the think-tank said. "It's increasingly clear that spending plans pencilled in for after the next election cannot be delivered," Smith said.

Persons: Jeremy Hunt, James, Suella Braverman, Hannah McKay, Hunt, James Smith, Smith, Alistair Smout, Sharon Singleton Organizations: Conservative, REUTERS, British, The Bank of England, Foundation, Thomson Locations: Manchester, Britain

☆ UK's Cleverly takes shelter as siren goes off during Israel visit
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: +1 min

British Foreign Secretary James Cleverly speaks on stage at the Conservative Party's annual conference in Manchester, Britain, October 1, 2023. REUTERS/Hannah McKay/File Photo Acquire Licensing RightsLONDON, Oct 11 (Reuters) - British foreign minister James Cleverly took shelter as a siren went off during his visit to Israel on Wednesday, a video clip posted on social media by the Israeli foreign ministry showed. Cleverly, who is visiting Israel to show solidarity following attacks by Palestinian militant group Hamas, could be seen running into a building in Ofakim in southern Israel. Cleverly visited Tel Aviv, Jerusalem and southern Israel, the Foreign Office said. Britain, along with its Western allies, has expressed steadfast support for Israel and condemned the attacks by Hamas.

Persons: James, Hannah McKay, I’ve, William James, Sachin Ravikumar, Kylie MacLellan Organizations: British, Conservative, REUTERS, Hamas, Foreign, BBC, Thomson Locations: Manchester, Britain, Israel, Ofakim, United Kingdom, Tel Aviv, Jerusalem

REUTERS/Stringer/File Photo Acquire Licensing RightsLONDON, Oct 5 (Reuters) - The British government will try next week to persuade judges at the country's top court to overturn a ruling which declared unlawful its divisive plan to deport to Rwanda asylum seekers who arrive in small boats across the Channel. The stakes for Sunak are high, as he has made dealing with immigration one of his five priorities. This year, more than 25,000 people have arrived in Britain on small boats, while a record 45,755 were detected in 2022. Housing some of those migrants in hotels costs about 6 million pounds a day. Polls show high immigration remains a major concern to voters, although conversely also suggest there is support for migrants filling labour shortages.

Persons: Suella Braverman, Paul Rwigamba, Flora Uwayezu, Stringer, Rishi Sunak's, Brendan Clarke, Smith, Sunak, Boris Johnson, of Canterbury, King Charles, Robert Reed, Clarke, Michael Holden, Kate Holton, Angus MacSwan Organizations: British, Property Management, REUTERS, Conservative, Reuters, Conservative Party, European Union, Thomson Locations: Kigali Rwanda, British, Rwanda, London's, East Africa, Syria, Iraq, Iran, Vietnam, Sudan, Europe, Britain, East, Africa, Afghanistan, Angus

☆ British lawmakers call for pause in live facial recognition surveillance
▼ + stars: | 2023-10-05 | by ( Martin Coulter | ) www.reuters.com time to read: +2 min

Reuters TV via REUTERS/File Photo Acquire Licensing RightsLONDON, Oct 6 (Reuters) - A cross-party coalition of 65 British lawmakers called on Friday for a pause in use of live facial recognition surveillance on the country's streets. British police have previously deployed live facial recognition at a number of large-scale public events, including the recent coronation of King Charles II. In a joint statement published on Friday, lawmakers from across the political spectrum said: "We call on UK police and private companies to immediately stop using live facial recognition for public surveillance." Signatories included veteran Conservative MP David Davis, Labour politicians Diane Abbott and John McDonnell, and Liberal Democrat leader Ed Davey. "There must be an urgent stop to live facial recognition, parliamentary scrutiny, and a much wider democratic debate before we introduce such privacy-altering technology to British life."

Persons: King Charles II, Chris Philp, David Davis, Diane Abbott, John McDonnell, Ed Davey, Silkie Carlo, Martin Coulter, Alex Richardson Organizations: Reuters, REUTERS, Amnesty International, European Union . British, Conservative, Labour, Liberal, Big Brother Watch, Runnymede Trust, Big Brother, Thomson Locations: London, Britain, Runnymede

☆ Britain’s Sunak issues rallying cry for a party that is already planning life without him
▼ + stars: | 2023-10-04 | by ( Luke Mcgee | ) edition.cnn.com time to read: +11 min

While the party establishment loathes Farage, Conservative members greeted him with open arms and requests for selfies after he arrived on Monday afternoon. The Conservative Party has always been a broad church, with competing factions jostling for supremacy. But Conservative Party members are rather different to the general public. Supporters applaud as Britain's Prime Minister Rishi Sunak speaks during the Conservative Party annual conference on Wednesday. Bookmakers' odds on the next UK general election are displayed outside the Manchester venue for the Conservative Party Conference on October 4, 2023.

Persons: Rishi Sunak, Boris Johnson, Liz Truss, –, steadying, ” Sunak, Sunak, Nigel Farage, loathes Farage, Hannah McKay, Kemi Badenoch, don’t “, Justin Tallis, Jeremy Hunt, Jon Super, Brexit, Johnson, didn’t, “ He’s, ”, Braverman, Grant Shapps, Suella Braverman, James, Stefan Rousseau, Christopher Furlong, Rishi Organizations: England CNN — British, Conservative Party, Conservative, CNN, Conservatives, Euroskeptic, Independence Party, European Union, selfies, Britain's UK Independence Party, PM, Labour Party, European, Human, Labour, British, Getty, Conservative Party Conference Locations: Manchester, England, “, North, Midlands, London, Sunak

MANCHESTER, ENGLAND - OCTOBER 3: British Prime Minister Rishi Sunak tours the Exhibitor's Hall on Day 3 of the Conservative Party Conference in Manchester, Britain, October 3, 2023. We've had 30 years of a political system which incentivises the easy decision, not the right one. Thirty years of vested interests standing in the way of change," he will say, according to excerpts of his speech. "Our political system is too focused on short-term advantage, not long-term success ... Our mission is to fundamentally change our country." "The Labour party have set out their stall: to do and say as little as possible and hope no one notices.

Persons: Rishi Sunak, Carl Court, Sunak, Grant Shapps, we've, We've, Jeremy Hunt, Keir Starmer, Elizabeth Piper, Andrew MacAskill, Alistair Smout, William Maclean, Robert Birsel Organizations: British, Conservative Party Conference, REUTERS Acquire, Rights, Conservative, Labour Party, Times, Euston, Labour, Thomson Locations: MANCHESTER, ENGLAND, Manchester, Britain, Rights MANCHESTER, England, English, London

☆ In Government Row Over ECHR, UK's Cleverly Says No Need to Leave
▼ + stars: | 2023-10-01 | by ( Oct. | At P.M. | ) www.usnews.com time to read: +1 min

MANCHESTER, England (Reuters) - British foreign minister James Cleverly knocked back a suggestion by another government minister on Sunday that leaving the European Convention of Human Rights was needed so the country could better tackle illegal immigration. Sunak has ruled out leaving the ECHR, a treaty agreed by almost every nation in Europe after World War Two, saying Britain could curb the arrival of illegal migrants without having to quit. But some in his party, including interior minister Suella Braverman, say the international conventions governing refugees were not fit for purpose, and only served to encourage activist lawyers to block deportations. Cleverly told a fringe event organised by think tank Onward at the Conservative conference, he did not "feel that in order to achieve what we need to achieve, to protect our borders, we are necessitated to leave the ECHR". And I have no doubt that the decisions that we have made are completely within the boundaries of international law.

Persons: James, Rishi, Kemi Badenoch, Sunak, Suella Braverman, Elizabeth Piper, Emelia Sithole Organizations: European Convention of Human, British, Sunday Times, Conservative Locations: MANCHESTER, England, Europe, Britain

☆ UK retailers demand government action on rising crime
▼ + stars: | 2023-09-30 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Peter Nicholls/File Photo Acquire Licensing RightsLONDON, Oct 1 (Reuters) - Some 88 UK retail leaders, including the bosses of Tesco (TSCO.L), Sainsbury's (SBRY.L) and Marks & Spencer (MKS.L), have signed a letter to interior minister Suella Braverman, demanding action over rising rates of retail crime. Rising crime is increasingly becoming a political issue in Britain ahead of an expected national election in 2024. It also put the scale of retail theft at 953 million pounds ($1.2 billion), despite over 700 million pounds in crime prevention spending by retailers. This would require police forces to record all incidents of retail crime. The industry also wants greater prioritisation of retail crime by police forces across the UK.

Persons: Peter Nicholls, Spencer, Suella Braverman, “, Helen Dickinson, John Lewis, James Davey, Alison Williams Organizations: REUTERS, Tesco, Industry, British Retail Consortium, Conservative, John, John Lewis Partnership, Waitrose, Aldi, Thomson Locations: Weybridge, Britain, Manchester

☆ UK train drivers to strike on Sept. 30, Oct. 4
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: 1 min

A view of an empty Charing Cross train station during planned strike action in London, Britain May 12, 2023. REUTERS/Maja Smiejkowska Acquire Licensing RightsLONDON, Sept 15 (Reuters) - British train drivers will strike on Sept. 30 and Oct. 4, the ASLEF trade union said on Friday, the latest walkouts in a long-running industrial dispute. ASLEF said there would also be an overtime ban across the network between Sept. 29 and Oct. 6. The strikes will coincide with the ruling Conservative Party's annual conference, which is being held in Manchester from Oct. 1-4. Reporting by Farouq Suleiman; writing by Sarah Young; Editing by Sachin RavikumarOur Standards: The Thomson Reuters Trust Principles.

Persons: Maja Smiejkowska, ASLEF, Farouq Suleiman, Sarah Young, Sachin Ravikumar Organizations: REUTERS, Conservative, Thomson Locations: Charing, London, Britain, Manchester

☆ Conservative UK lawmaker formally quits with scathing attack on PM Sunak
▼ + stars: | 2023-08-27 | by ( ) www.reuters.com time to read: +2 min

LONDON, Aug 27 (Reuters) - UK member of parliament Nadine Dorries has delivered a scathing attack on her Conservative Party's leader Rishi Sunak in her formal resignation letter, accusing the prime minister of running a "zombie parliament" and lacking any political vision. "Since you took office a year ago, the country is run by a zombie parliament where nothing meaningful has happened. "You hold the office of prime minister unelected, without a single vote, not even from your own MPs. A former finance minister and investment banker, Sunak became prime minister in October last year after being the only candidate to be nominated in a party leadership contest. "In your impatience to become prime minister you put your personal ambition above the stability of the country and our economy," said Dorries.

Persons: Nadine Dorries, Rishi Sunak, Boris Johnson, Dorries, Sunak, Johnson, Liz Truss, Kylie MacLellan, Frances Kerry Organizations: Conservative, Labour Party, Conservatives, Labour, Sunak's Conservatives, Thomson Locations: Sunak

☆ 'Terrible': UK minister sorry for COVID lockdown party video
▼ + stars: | 2023-06-18 | by ( Michael Holden | ) www.reuters.com time to read: +3 min

LONDON, June 18 (Reuters) - Senior British minister Michael Gove on Sunday described a video showing a party at the ruling Conservative Party's headquarters during a lockdown in 2020 as "terrible", as COVID rule-breaking gatherings continue to hang over the government. The video was published by the Mirror newspaper just days after a parliamentary committee ruled that former Prime Minister Boris Johnson had wilfully misled lawmakers about rule-breaking lockdown parties at his office. "It's terrible," Gove, the housing minister, told Sky News. The issue of rule-breaking during COVID lockdowns helped bring down Johnson, who left office last year, and still hangs over the Conservatives and current Prime Minister Rishi Sunak. Polls suggest the Conservatives, in power since 2010, are trailing the opposition Labour party by about 20% percentage points.

Persons: Michael Gove, Conservative Party's, Boris Johnson, Johnson, Gove, COVID lockdowns, Rishi Sunak, JOHNSON, Sunak, Michael Holden, Mark Heinrich, Sharon Singleton Organizations: Senior, Conservative, Mirror, Sky News, Conservatives, Labour, Bank of, Thomson Locations: Senior British, London, COVID

☆ UK's Boris Johnson and the 'partygate' scandal
▼ + stars: | 2023-06-15 | by ( ) www.reuters.com time to read: +5 min

10 Downing Street, in December 2020, when such gatherings were banned. Dec. 1 - Johnson, asked about a December 2020 party, tells parliament: "All guidance was followed completely in No. Dec. 8 - Johnson tells parliament: "I have been repeatedly assured since these allegations emerged that there was no party and that no COVID rules were broken." May 19 - The police hand out 126 fines relating to eight dates when events were held at Downing Street and the Cabinet Office. March 22 - In a combative public hearing, Johnson tells the committee that "hand on heart" he did not lie to parliament.

Persons: Boris Johnson, Johnson, Queen Elizabeth, Prince Philip's, Sue Gray, Carrie, Rishi Sunak, Gray, Sachin Ravikumar, Kylie MacLellan, William James, Andrew MacAskill, Gareth Jones, Frank Jack Daniel Our Organizations: ITV, Downing Street, Police, Privileges, Downing, Conservative, Thomson Locations: Downing

☆ UK's Sunak launches charm offensive on business leaders
▼ + stars: | 2023-04-23 | by ( Andrew Macaskill | ) www.reuters.com time to read: +2 min

Sunak has made reviving the economy one of his five key priorities, after Britain's gross domestic product only regained its pre-pandemic size in February. Sunak, a former investment banker, along with finance minister Jeremy Hunt and business minister Kemi Badenoch will speak at a series of events on Monday to more than 200 executives representing sectors including technology and manufacturing. "We are bringing together some of the UK's biggest companies and investors for meaningful dialogue – and I'm a prime minister passionate about working with business to unlock opportunity and progress," Sunak said in a statement. In what his office called his first ever LinkedIn Live event, business leaders will on Monday morning also have the opportunity to ask Sunak questions about business policy. The prime minister will unveil an innovation category at the Great British Entrepreneur Awards on Monday evening, hosted by the finance minister at Downing Street.

☆ UK's Deputy PM Raab quits over bullying probe
▼ + stars: | 2023-04-21 | by ( Reuters Editorial | ) www.reuters.com time to read: 1 min

PoliticsUK's Deputy PM Raab quits over bullying probePostedBritish Deputy Prime Minister Dominic Raab resigned on Friday following an independent investigation into allegations that he bullied colleagues. The loss of a third minister over personal conduct will damage Sunak's efforts to revive the governing Conservative Party's fortunes. Lucy Fielder reports.

☆ UK PM Sunak considers bullying report into his deputy Raab
▼ + stars: | 2023-04-20 | by ( ) www.reuters.com time to read: +2 min

LONDON, April 20 (Reuters) - British Prime Minister Rishi Sunak has received an independent report into allegations of bullying against Deputy Prime Minister Dominic Raab and is considering his response, Sunak's spokesperson said on Thursday. "The prime minister has received the report from Adam Tolley the independent investigator. He is considering those findings," Sunak's spokesperson said. The spokesperson said that Sunak wished to publish his response as soon as possible, but did not say if that would be on Thursday. Raab, who is also justice minister, has said he was confident he had behaved professionally throughout, while Sunak initially defended his deputy when the reports surfaced, saying he did not recognise allegations that Raab had bullied staff.

The immediate outlook is less sombre: The economy is due to shrink by 0.2% in 2023, not 1.4% as previously thought. It also said Hunt's three-year business investment incentives would bring investment forward at a cost to later years. "We're on track to meet the - relatively loose, poorly designed - fiscal rule on paper only," he said. "It's even more important that the government builds on the measures presented today and produces a more comprehensive plan for boosting growth." ($1 = 0.8282 pounds)($1 = 0.8283 pounds)Writing by William Schomberg, Editing by Angus MacSwanOur Standards: The Thomson Reuters Trust Principles.

☆ UK plans 11 billion sterling business tax break in budget, Bloomberg reports
▼ + stars: | 2023-03-11 | by ( ) www.reuters.com time to read: +1 min

March 11 (Reuters) - British finance minister Jeremy Hunt will hand businesses a three-year tax break worth 11 billion pounds ($13.23 billion) by replacing the UK's investment allowance with a temporary measure in next week's budget, Bloomberg News reported on Saturday, citing a government official with knowledge of the matter. Hunt will limit the relief to three years and propose a permanent replacement in the ruling Conservative Party's manifesto before the next election, the report said. Under this replacement full-expensing regime, companies will continue to save 25 pence on their tax bill for every 1 pound invested, the report said. A previously announced increase in the headline rate of corporation tax, to 25% from 19%, is due to come into force in April. ($1 = 0.8314 pounds)Reporting by Lavanya Ahire in Bengaluru; Editing by Tomasz Janowski and Mike HarrisonOur Standards: The Thomson Reuters Trust Principles.

☆ Nick Clegg led Meta's decision to reinstate Trump to Facebook and Instagram. Here's how the former UK deputy prime minister charmed his way into Mark Zuckerberg's inner circle.
▼ + stars: | 2023-01-26 | by ( Philip Webster | ) www.businessinsider.com time to read: +18 min

Nick Clegg has risen quickly to become one of Mark Zuckerberg's closest confidants at Meta. Clegg, a former UK deputy prime minister, led the decision to reinstate Donald Trump to Facebook. It was updated on February 16, 2022 following the news that Nick Clegg had been promoted to the role of President for Global Affairs. In a challenging economic climate, the Lib Dems and their Conservative coalition partners voted to raise tuition fees. Nick Clegg (left) and Chris Huhne appearing on the BBC's "The Andrew Marr Show" in October 2007.

☆ British PM Sunak faces new demands from his fractious party
▼ + stars: | 2022-12-11 | by ( Alistair Smout | ) www.reuters.com time to read: +3 min

The Conservative Party has already ousted two prime ministers in 2022 - Boris Johnson and Liz Truss - and trails the opposition Labour party in the polls by double digits, with another national election expected in 2024. Sunak became prime minister in October when Truss resigned after less than two months. Sunak has reversed those plans and instead raised taxes, reassuring financial markets, but upsetting some Conservative lawmakers. A separate group - Conservative Democratic Organisation - was also launched on Sunday aiming to "take back control" of the party on behalf of the party's membership, after Johnson and Truss were ousted - and Sunak selected - by the parliamentary party. Johnson and Truss were both chosen via a vote by the Conservative Party's membership of around 170,000.

☆ Rishi Sunak is worth almost $850 million, making him Britain's richest prime minister. Here's why that could be a big problem.
▼ + stars: | 2022-10-30 | by ( Ryan Hogg | Beatrice Nolan | ) www.businessinsider.com time to read: +6 min

UK Prime Minister Rishi Sunak is worth about $850 million according to the Sunday Times Rich List. With wealth that rivals King Charles III, the former finance minister is the richest UK leader ever. The 42-year-old former chancellor (finance minister) has a net worth of £730 million ($847 million) according to the Sunday Times Rich List, and was ranked 222nd in May. Queen Elizabeth II was estimated to be worth about $440 million before her death, according to the Sunday Times. The ex-finance minister has a 19th century, Grade II-listed mansion in Yorkshire as well as a London home worth millions.

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