On Monday 24th October just under 200 Tory M.P.s decided Rishi-Sunak would be Britain’s new Prime-Minister.
This move seems to have ended the recent Tory psychodrama which saw Boris Johnson ousted, Liz Truss (herself voted in by an extreme minority of Tory party members) who then went on to crash the economy and then stepped down to leave the door open for Rishi, the only viable candidate left.
Rishi’s coronation seems to signify a temporary suspension of democracy in Britain – there is no way anyone can strain their analysis far enough to claim this is democratic – it’s the coronation of a multimillionaire by a party of millionaires.
This post explores the relevance of the marxist perspective to the coronation of Rishi Sunak.
Marxism applied to Rishi’s Coronation
Rishi Sunak is a member of the global elite and he is now British P.M. without having been elected.
Rishi may well be from East-African Asian heritage but his father was a Doctor and mother a Pharmacist and they paid for him to attend a private preparatory school and then to go on to Westminster College, which helped to hot-house him into Oxford University and and then a job with Goldman Sachs.
So while he thinks of himself as a self-made man this isn’t true – he is from a highly privileged background having benefitted from his parents’ material capital – they paid for him to have the best education and he leveraged this into the qualifications that eventually got him a job with an immoral global investment bank: Goldman Sachs.
The combined wealth of the Sunaks (Rishi and his wife, Akshata Murty), is £730 million, which means they are in Britains’ top 250 rich list.
It’s worth noting that Rishi Sunak’s wife is the daughter of an Indian billionaire, Narayana Murthy, who established a company called InfoSys which is worth around $75 billion.
NB note that Akshata Murty spells her surname different to her fathers, the most likely explanation of this being that she doesn’t want people to know she is an heiress and pretty much all of her success can be attributed to her father’s extreme wealth.
All of this means that Rishi Sunak is now one of the richest political leaders in the world – he is richer than every leader in functioning democracies but not quite as rich as many leaders in dictatorships and autocracies and whatever Britain should be classified now it isn’t a democracy any more.
The Global Elite Wanted Rishi all Along!
Rishi Sunak must be well known among the global economic elite with his marriage connections to one of the richest tech company founding billionaires in the world.
And he’s the perfect man for them to run Britain’s economy so that it can go on extracting wealth upwards from the ordinary people to the global elite for many years to come.
He is a young face that knows how to manage his media image, he is Britains’ first Asian Prime Minister which gives the feeling that this is progressive, he ticks a lot of ‘public acceptability’ boxes, but he is also part of the global elite, make no mistake.
Rishi knows, unlike Liz Truss, that the global elite have to play the long game in this extraction process. Britain went into massive debt during Covid and it simply can’t cut taxes in the short term – the ordinary people have to be made to pay for this first, Britain’s macro economic situation needs to be made sustainable as a priority and this may take many years to sort out.
International Capital clearly doesn’t want more tax cuts or Britain to be turned into a basket case of an economy as Liz Truss’ policies would have done. Rather it makes sense for Capital to be patient – keep tax relatively high, pay off the debt and then, after a few years, more tax cuts, more privatisation, more neoliberal extraction.
Liz Truss’ plan would would have meant too many tax cuts and then just cuts to public services -and there’s no profit for international capital in that. They’ve had it good from Britain, and there’s more profit for them to come in the next decades, nothing to be gained from policies which trash the British economy!
Rather what International Capital needs for maximum profit is a man like Rishi who will ensure Britain’s financial stability and then probably instil a GRADUAL programme of stealth privatisation of the health and education and maybe even policing sectors so that tax payers money can keep feeding the wealthy abroad, while the public suffer from subtly decreasing quality of public services.
What will Rishi Sunak’s Social Policies Look Like?
‘The Market’s have already decided he can’t cut taxes yet – so he’ll probably just stay with taxation as it is and look to make public service cuts where he can.
What I am expecting from this new Tory government is LOTS of privatisation of health and education – but through the public-private partnership model where more and more tax money gets siphoned off to global companies.
Don’t forget that Rishi has no commitment to Britain, he doesn’t even formally live in Britain, he’s got non-domicile status, him and his wife don’t even pay most of their tax here, they themselves don’t rely on public services either.
What other perspectives and concepts can you apply to Rishi’s Coronation…?
This post was primarily written from a Marxist perspective.
There are plenty of others but for me Marxism is the main one, it’s so relevant that I don’t want to divert attention away from it by putting in anything else!
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