Rishi Sunak has been mocked by opponents after he said he went without "lots of things" as a child, including Sky TV.
In an interview with ITV News, the Prime Minister, who attended the fee-paying Winchester College, said his parents "wanted to put everything into our education and that was a priority".
Mr Sunak and his wife Akshata Murty are estimated to have a personal fortune of £651m.
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The SNP said the comments showed the Prime Minister was “completely out of touch with families in Scotland, who have had to sacrifice a lot more than a Sky TV dish over the course of fourteen years of Westminster austerity cuts, Brexit and a cost of living crisis.”
ITV’s interview with Mr Sunak was recorded last week, with the Prime Minister leaving the D-Day commemorations in Normandy early so he could speak to the broadcaster.
While he attended the British event in the morning, he skipped a major international ceremony.
The event on Omaha Beach was attended by Joe Biden, Olaf Scholz and Emmanuel Macron, but it was left to Foreign Secretary Lord Cameron to represent the UK.
The decision sparked anger from supporters and opponents alike.
In a clip released by ITV News, Mr Sunak can be seen apologising for being late to journalist Paul Brand before the formal interview starts. He says the event in Normandy "ran over".
"It was incredible. But it just ran over," he said. He adds that he had met "lots of veterans" and "spoke to almost everyone that was there".
When asked during the interview if he had ever gone without something, the Prime Minister told ITV: "Yes, I mean, my family emigrated here with very little. And that's how I was raised. I was raised with the values of hard work."
Asked what sort of things had to be sacrificed, he said: "Lots of things."
Pushed for an example, he said: "All sorts of things like lots of people. There'll be all sorts of things that I would've wanted as a kid that I couldn't have. Famously, Sky TV, so that was something that we never had growing up actually."
He added: "What is more important is my values and how I was raised. And I was raised in a household where hard work was really important."
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Mr Sunak was pushed on the comments while out on the campaign trail.
Asked whether he accepted he had had a privileged upbringing, he said: “I was very, very fortunate that my parents had good jobs.
“My dad was a GP, my mum was a pharmacist, and they worked really hard to support me and my brother and sister and I’m really grateful to them for that and actually more importantly than material things, what they did for all of us was instil in us a sense of hard work, and service, but also just provide an enormous amount of love.
“And that’s the most important thing that they did for us. And I’m very grateful for that. And that’s why I say I’m very fortunate.
"But the reality of the situation is my grandparents emigrated in this country, with very little and in three generations, I’m sitting here talking to you as Prime Minister.
“And I think that says an enormous amount about our country because I don’t think my story will be possible, pretty much anywhere else.”
Commenting on Mr Sunak’s interview, the SNP candidate for Glasgow East, David Linden said: “Yet again, Rishi Sunak has shown he is completely out of touch with families in Scotland, who have had to sacrifice a lot more than a Sky TV dish over the course of fourteen years of Westminster austerity cuts, Brexit and a cost of living crisis.”
He said the remarks “shows why it’s essential to vote SNP to get rid of this Tory government and put Scotland’s interests first.”
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