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regular-article-logo Friday, 22 November 2024

Sunak Tunak Tun

Akshata Murthy has decided to pay UK tax on her worldwide income and has attributed this change of heart to?

Upala Sen Published 10.04.22, 12:28 AM
Rishi Sunak and Akshata Murthy

Rishi Sunak and Akshata Murthy File Picture

Of all the things Akshata Murthy could have said to turn the volume down on the controversy over husband Rishi Sunak’s integrity, why did she have to say that? But first, Sunak, who is chancellor of the exchequer and member of the ruling Conservative government in the United Kingdom, has gained notoriety for keeping up the pressure on the taxpayer. According to the Institute for Fiscal Studies, in the two years since assuming office, Sunak has presided over four major fiscal events. “During that time, his tax policy has been characterised by large temporary tax cuts… coupled with even larger (and permanent) tax rises…”

Rishi Antoinette

This, alongside inflation, which is at a 40-year-high, has the aam UK citizen in a tight spot. According to the Office for Budget Responsibility, real household disposable incomes are expected to drop “on a per-person basis by 2.2 per cent in 2022-23”. The UK media has widely reported how Sunak, for all his avowed sympathies for the poor householder and staged photos of himself filling with fuel a borrowed hatchback, is actually quite out-of-touch with ground realities. (He owns a Volkswagen Golf, a Range Rover, a Lexus and a BMW.) When asked by BBC Breakfast which food item he noticed was becoming increasingly expensive, he replied. “I think bread.” But when asked what kind and by how much he said, “We have a whole range of different — we all have different breads in my house…” UK Twitter, but naturally, knighted him Rishi Antoinette thereafter.

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Fair and lovely

Given this track record, when it came to be known that the missus, Akshata Murthy, has been paying taxes as a non-domicile all these years, but naturally there was an uproar. "Richer than the Queen", Akshata is a UK-based fashion designer and daughter of Infosys founder Narayana Murthy. From her fractional stake in Infosys — 0.9 per cent — she is said to have earned 11.5 million pounds from dividends last year. It is being said that she may have avoided up to 20 million pounds in UK tax so far. And that is when the lady stepped up to make amends. She said she would pay UK tax on her worldwide income and here’s why. Because she understands and appreciates “the British sense of fairness”.

Wonder what her extended family and friends back home would make of that one? In retrospect, of course.

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