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Rajapaksa becomes Sri Lanka's main opposition leader 

Former president Mahinda Rajapaksa on Tuesday (18) became Sri Lanka's main opposition leader in Parliament, just days after he quit from his post as prime minister.

Rajapaksa, 73, replaced veteran Tamil leader of the main Tamil party R Sampanthan who held the position from 2015.


His appointment was announced by Speaker Karu Jayasuriya in Parliament.

Rajapaksa's appointment as prime minister has put the island nation in political turmoil. the constitutional crisis began in October after president Maithripala Sirisena appointed former president and member of parliament Rajapaksa as prime minister before formally dismissing the incumbent Ranil Wickremesinghe.

Wickremesinghe refused to step down, calling his sacking illegal. The country's supreme court, too, had nullified Sirisena's illegal move.

Although the president had initially refused to reappoint Wickremesinghe, Sirisena offered to reappoint Wickremesinghe as the prime minister as he respected parliamentary traditions and democracy.

Sirisena administered the oath to Wickremesinghe, and soon after the ceremony, he made a speech where he said he doubted if the two leaders will be able to work together for long.

“With the issues we have I am not sure what guarantees we have that we could go on this journey together,” Sirisena told Wickremesinghe and a group of his lawmakers.

In a statement from his official residence, Wickremesinghe said: “Now I will assume duties of the office of prime minister.

“Unfortunately, during the past few weeks, the progress of this country and the development programs that we undertook were stalled,” he said. “Not only that, the country went backward. Today we commit firstly to bring back normalcy and resuming the development program.”

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Lakshmi Mittal

Mittal's exit comes as Rachel Reeves prepares a fresh tax raising budget aimed at balancing the government's finances

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Lakshmi Mittal quits Britain for Switzerland and Dubai over inheritance tax concerns

Highlights

  • Lakshmi Mittal, worth over £15 bn, has moved his tax residence from UK to Switzerland with plans to spend most time in Dubai.
  • Inheritance tax concerns, not income tax, drove the decision of the "King of Steel" to leave after 30 years in Britain.
  • The departure marks another high-profile exit as chancellor Rachel Reeves prepares major tax rises in the coming Budget.
Lakshmi Mittal, one of Britain's wealthiest men, has ended his three-decade association with the UK, relocating his tax residence to Switzerland and planning to base himself in Dubai. The 74-year-old steel magnate, worth approximately £15.5 bn according to the Asian Rich List 2025, is the latest prominent entrepreneur to leave Britain amid Labour's tax reforms targeting the super-rich.

The Indian-born billionaire built his fortune through ArcelorMittal, the world's second-largest steelmaker, in which he and his family hold nearly 40 per cent ownership. Since arriving in London in 1995, Mittal became a prominent figure in British business, acquiring expensive properties including a £57 m mansion on Kensington Palace Gardens known as the "Taj Mittal."

An adviser familiar with Mittal's family plans told The Sunday Times that, inheritance tax was the decisive factor in the decision. "It wasn't the tax on income or capital gains that was the issue, the issue was inheritance tax."

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