British Prime Minister Rishi Sunak paid 508,000 pounds ($641,000) in tax last year after his investment income exceeded his official salary, a report released today by his accountants showed. Sunak is the richest prime minister in British history due to a combination of his previous career in financial services and the wealth of his wife's family, whose father founded the Indian IT company Infosys.
Today's three-page summary is the second time Sunak has published details of his tax situation since becoming prime minister in 2022. The figures show Sunak earned £139,000 from his salary as an MP, finance minister and prime minister between April 2022 and March 2023 and £2.1 million from investments. Of its investment income, £1.8 million came from capital gains, up from £1.6 million last year, foreign media reported.
About 70% of the total tax Sunak paid was due to capital gains tax he made on sales of investments, such as stocks. Although Sunak is not required to provide details of his income, he agreed to do so in order to be more transparent about his personal financial situation. The report by Evelyn Partners, the British prime minister's accountants, says all of Rishi Sunak's investment income and capital gains are linked to a "single US investment fund".
The British prime minister was criticized this week after placing a £1,000 bet with presenter Piers Morgan on whether the government would succeed with its plan to send asylum seekers to Rwanda before the next general election. Opposition parties said the bet was offensive and that Sunak's ability to place such a large bet showed he was out of touch with ordinary voters.
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