No cliché post of how karma is a boomerang and how UK that ruled
India is now about to be ruled by an Indian !!
.. .. .. Rishi Sunak took oath as
MP from Yorkshire, on the Bhagavad Gita in the Parliament. He was the first UK
parliamentarian to do so. During the
campaigning for the PM's post in the summer of 2022, Rishi Sunak faced criticism
on various fronts including his lavish house, expensive suits, and shoes.
As a young man, Walpole had bought shares in the South Sea
Company, which monopolised trade with Spain, the Caribbean and South America.
The speculative market for slaves, rum and mahogany spawned a frenzy that had
ramifications throughout Europe when it collapsed. However, Walpole had bought
at the bottom and sold at the top, adding greatly to his inherited wealth and
allowing him to create Houghton Hall as seen today.
Walpole's political career began in January 1701 when he won a
seat in the English general election at Castle Rising in Norfolk. The South Sea Company (officially The Governor
and Company of the merchants of Great Britain, trading to the South Seas and
other parts of America, and for the encouragement of the Fishery) was a British joint-stock company founded in 1711, created as a public-private partnership
to consolidate and reduce the cost of the national debt. To generate income, in
1713 the company was granted a monopoly (the Asiento de Negros) to supply African slaves to the islands in the
"South Seas" and South America. When the company was created, Britain was
involved in the War of the Spanish Succession and Spain and Portugal controlled
most of South America. The Company stock rose greatly in value as it
expanded its operations dealing in government debt, and peaked in 1720 before
suddenly collapsing to little above its original flotation price. The notorious
economic bubble thus created, which
ruined thousands of investors, became known as the South Sea Bubble. The Bubble Act 1720 forbade the creation of
joint-stock companies without royal charter, was promoted by the South Sea
Company itself before its collapse.
Indians are not fit to rule – they are only fit to be ruled –
thundered British a few decades ago ! ..
.. now it is not London Bridge that is falling down!
Margaret Thatcher, John Major, Tony Blair, Gordon Brown, David
Cameron, Theresa May, Boris Johnson, Liz Truss the list of Prime Minister from
our school days - now Rishi Sunak will be the UK's next prime
minister after winning the Conservative Party leadership contest. No 10
says Sunak will formally take over as PM tomorrow morning after meeting King
Charles, and will give a statement at around 11:35. That'll follow a final cabinet meeting chaired
by outgoing PM Liz Truss.
The prime minister of the United Kingdom is the Principal
minister of the crown of His Majesty's Government, and the head of the British
Cabinet. In 1905, the post of prime minister was
officially given recognition in the order of precedence. The first to use the title in an official act
was Benjamin Disraeli, who signed the Treaty of Berlin as "Prime Minister
of Her Britannic Majesty" in 1878.
Of the many Prime Ministers, Attlee is a name to remember – for he
was the PM of UK when India attained freedom from the British. Clement Richard
Attlee, 1st Earl Attlee, KG, OM, CH, PC, FRS (1883 –1967) served as Prime
Minister of the United Kingdom from 1945 to 1951 and Leader of the Labour Party
from 1935 to 1955. He was Deputy Prime Minister during the wartime coalition
government under Winston Churchill, and served twice as Leader of the
Opposition from 1935 to 1940 and from 1951 to 1955. Attlee was born into an upper-middle-class
family, the son of a wealthy London solicitor.
As the European front of WWII reached its conclusion, the war
cabinet headed by Churchill was dissolved and elections were held. The Labour
Party, led by Attlee, won a landslide victory in the 1945 general election, on
their post-war recovery platform. Following the election, Attlee led the
construction of the first Labour majority government. His government's
Keynesian approach to economic management aimed to maintain full employment, a
mixed economy and a greatly enlarged system of social services provided by the
state. To this end, it undertook the nationalisation of public utilities and
major industries, and implemented wide-ranging social reforms, including the
passing of the National Insurance Act 1946 and National Assistance Act, the
formation of the National Health Service (NHS) in 1948, and the enlargement of
public subsidies for council house building. Attlee's
foreign policy focused on decolonization efforts which he delegated to Ernest
Bevin, but personally oversaw the partition of India (1947), the independence
of Burma and Ceylon, and the dissolution of the British mandates of Palestine
and Transjordan. Attlee had inherited a country close to
bankruptcy following the Second World War and beset by food, housing and
resource shortages; despite his social reforms and economic programme, these
problems persisted throughout his premiership, alongside recurrent currency
crises and dependence on US aid. His party was narrowly defeated by the
Conservatives in the 1951 general election, despite winning the most votes.
The man referred in 2nd para - Robert Walpole, 1st
Earl of Orford, KG PC (1676 – 1745) was a British statesman and Whig politician
who is regarded as the de facto first
Prime Minister of Great Britain. Although the exact dates of Walpole's dominance,
dubbed the "Robinocracy", are
a matter of scholarly debate, the period 1721–1742 is often used – a period of
21 years ! He
played a significant role in sustaining the Whig party, safeguarding the
Hanoverian succession, and defending the principles of the Glorious Revolution
(1688).
Under the guidance of Walpole, Parliament attempted to deal with
the financial crisis brought on by the South Sea Bubble. The estates of the
directors of the South Sea Company were used to relieve the suffering of the
victims, and the stock of the company was divided between the Bank of England
and East India Company. The crisis gravely damaged the credibility of the King
and of the Whig Party, but Walpole defended both with skilful oratory in the
House of Commons.
10 Downing Street in London, is the official residence and executive office
of the First Lord of the Treasury,
usually, by convention, the Prime Minister of the United Kingdom. Along with the adjoining Cabinet Office at 70
Whitehall, it is the headquarters of the Government of the United Kingdom. Situated
in Downing Street in the City of Westminster, London, Number 10 is over 300
years old and contains approximately 100 rooms. A private residence for the
prime minister's use occupies the third floor and there is a kitchen in the
basement. The other floors contain offices and conference, reception, sitting
and dining rooms where the prime minister works, and where government
ministers, national leaders and foreign dignitaries are met and hosted. Rishi Sunak
is going to be its next occupant !!
With regards – S.
Sampathkumar
25th Oct 2022.
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