Rishi Sunak’s wealth is a “serious problem” as voters say the prime minister doesn’t understand the cost of living crisis | Job Binary

Can a rich politician understand that ordinary Britons are going through a crisis of survival? Voters answering that very question this week could be a big concern for Rishi Sunak.

Just shared a survey conducted by Redfield & Wilton Strategies over the past few days i, 62 per cent of people indicated that they either ‘agreed’ or ‘strongly agreed’ that such a politician ‘fails to relate to the experiences of ordinary Britons’. Only 15 percent “disagree” or “strongly disagree.”

Asked what word first came to mind to describe Mr. Sunak, voters told Savanta ComRes polling company “rich.” Another YouGov poll found that 67 per cent of voters thought Mr Sunak was out of touch with ordinary people.

Meanwhile, 67 per cent of YouGov voters believe Mr Sunak is out of touch with ordinary people.

The electorate’s wealth derives primarily from the family business of Mr Sunak’s wife, Akshata Murthy, and led to the Sunday Times rich list estimating the couple’s net worth at £730m – more than double that of King Charles.

Ms Murthy is the daughter of Indian tycoon Nagawara Ramarao Narayana Murthy, founder of the Bangalore-based IT and software group Infosys, which is estimated to be worth around £4 billion.

Infosys is valued at £67bn, with Ms Murthy’s 0.93 per cent stake increasing by around £6m this week, from around £615m to £621m. While the overall figure is down year-on-year, it highlights the gap critics say between the prime minister’s marital status and the average household.

Rishi Sunak’s wife Akshata Murthy, center, supports her husband Rishi Sunak with Michael Gove and Mr Sunak’s mother Usha as Liz Truss wins a short-term lease at #10 (Photo: Stefan Russo/PA Wire)

Savanta ComRes director Chris Hopkins believes Mr Sunak’s wealth will not help him with voters.

He said i: “I don’t think Rishi’s wealth is the problem, but this is the extreme of him- The Sunday Times rich list, having a personal fortune of around £750 million is eye-watering.

“Being so wealthy at a time when many people up and down the country are really struggling financially could seriously damage Sunak and quickly become a sign of being out of touch.”

Mr. Hopkins pointed to a survey his firm conducted at a time when the issue of Mr. Sunak’s family’s finances dominated the headlines.

Akshata Murthy’s father N.R. Narayana Murthy with former Prime Minister David Cameron in 2010 (Photo: Namas Bhojani/Bloomberg/Getty)

Earlier this year, Ms Murty was at the center of a political storm after it emerged that she had used her ‘domestic’ status to legally avoid paying UK tax on her global income.

He voluntarily gave up his legal right to non-dom status in April and will now pay British tax on all his worldwide income.

Mr. Sunak’s favorability rating fell from -25 to -37 in a matter of days at the height of the recession.

In a statement at the time, Ms Murthy emphasized her pride in her country of birth and adopted home: “My decision to pay UK tax on my worldwide income does not change the fact that India remains my country of birth and citizenship. , parents’ house and place of residence. But I also love Britain.”

Mr Hopkins said at the time that Sunak’s image had taken a “hit” and added: “I don’t think the public are against wealth, but they are against the excesses of it, especially if they don’t pay their fair share.” tax share”.

Some believe Mr Sunak’s wealth could play particularly poorly in the so-called Red Wall seats traditionally held by Labour. According to YouGov, Mr Sunak is unlikely to be the preferred leader in any of the 50 Red Wall constituencies – Labour’s Sir Keir Starmer has won 31 of the 50.

According to YouGov, if a general election were held today, Mr Sunak would not be the preferred leader in any of the 50 Red Wall constituencies. Labour’s Keir Starmer wins 31 out of 50, with “no confidence” being the most common answer in the remaining 19.

However, Red Wall Tories insist Mr Sunak’s wealth is not a problem at the door.

Sam Smith, a Nottinghamshire councillor, said: “All the people in the red wall are wondering how this government is going to improve schools and whether they can get decent jobs that pay enough to live on, and us? Do you want to launch boats on the canal?

“I think the boats going back into the Channel are more important to Red Wall voters than whether the Prime Minister has more money than the King.”

At Prime Minister’s Questions this week, Sir Keir said Ms Murthy had not forgotten her former non-state status as she called for the tax status to be scrapped. He said: “I don’t need to explain to the Prime Minister how the non-Dom state works.”

In response, Mr Sunak admitted the Government would have to “take tough decisions to restore economic stability and confidence” in the coming weeks and promised to do so “fairly and compassionately”.

This was reported by a Liberal Democratic source i: “We hear that it is not his wealth, but his politics that is at stake.

Blue Wall voters are telling us they haven’t forgotten Rishi Sunak’s time as chancellor.

“He has raised taxes on working families and ignored the pinched environment when it came to helping with energy bills. If he fails to act after next week’s mortgage rate hike, disillusioned Conservative voters will find him out of touch.”

Downing Street has been contacted for comment.

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