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The government ethics watchdog was asked to assess whether the ministerial code was violated by Rishi Sunak by failing to declare on the ministerial interest register a multi-million dollar portfolio of shares held by his wife and family.
Labor MP Tonia Antoniazzi has written to Lord Evans, chairman of the committee on standards in public life, asking him to examine the issue “urgently”. His concerns were echoed by Treasury shadow finance secretary James Murray, who said the revelations raised “serious questions” about the chancellor’s conduct.
The Guardian revealed on Friday that Sunak’s wife, Akshata Murty, was richer than the Queen thanks to a £ 430 million stake in IT multinational Infosys, which was founded by her father and is a contractor for the government and public bodies of the United Kingdom. It also has direct equity stakes in at least six UK companies. None of these investments was mentioned in the chancellor’s entry in the official register.
Ministers are required to publish details of any financial interests held by themselves and their close family members that are relevant to their role in government and “that may be considered to conflict” with their public functions.
“The reports on the Chancellor’s financial affairs are extremely worrying and I am writing to ask you to assess whether this is in direct violation of the ministerial code of conduct,” Antoniazzi wrote.
The Public Life Standards Committee oversees the conduct of public officials and advises the Prime Minister on ethics. It has no formal powers, but its recommendations are traditionally accepted by the government of the day.
Antoniazzi said the accusations of a lack of transparency by the chancellor “further erode public trust in politicians and discredit parliament.”
Murray added: “The ministerial code is clear that ministers must ensure that no conflict arises between their position and their private interests, as well as those of their close family members. If the Chancellor has nothing to hide, he should be honest with the British public. “
Sunak and Murty have not responded directly to requests for comment. The Treasury said that Sunak made a full declaration of his wife’s interests to senior public officials and that the decision on what to publish on the list was made by advisers.
Before joining the Treasury, Sunak met with then-government property and ethics chief Helen MacNamara to decide what should be declared, a government source said. MacNamara reviewed Sunak and Murty’s interests and confirmed at the time, and again recently, that she was “satisfied” with what had been recorded. Former independent adviser on the ministers’ interests, Sir Alex Allan, also approved the disclosures, according to the source.
A Treasury spokesman said Allan had confirmed that he was “completely satisfied with the adequacy of the chancellor’s arrangements” and that he had “followed the ministerial code to the letter in his declaration of interests.”
Allan resigned from his post this month after falling out with the prime minister over his decision not to take action against Interior Secretary Priti Patel. A report by Allan found that Patel had violated the ministerial code by intimidating public officials.
At the time, Evans, chairman of the public life standards committee, said Allan’s departure raised “serious questions about the effectiveness of current arrangements to investigate and respond to violations of the ministerial code.”
His committee recently launched a “landscape review” of the institutions, processes and structures that uphold the standards in public life, after acknowledging growing concern about the conduct of the Boris Johnson government on issues such as purchasing PPE.
Transparency International said the registry of interests was there to ensure that decisions were made in the national interest, not for “personal gain.”
Alex Runswick, senior advocacy manager for the campaign group, said: “To rebuild public trust, we need a political culture in which it is common practice to go beyond the letter of the guide when declaring potential conflicts of interest consequences for violating the rules “.
