Rishi Sunak must ‘come clean’ on financial interests today, Starmer demands

Rishi Sunak must “come clean” and publish his financial interests today, Sir Keir Starmer has demanded as the PM comes under pressure over a probe into a possible failure to declare his wife’s shares properly.

The prime minister is being investigated by parliament’s sleaze watchdog amid claims he did not declare Akshata Murty’s shares in a childcare agency boosted by chancellor Jeremy Hunt’s recent Budget.

But No 10 rejected the call from the Labour leader – pointing to the fact that Mr Sunak has privately declared the shares his wife holds in Koru Kids as a ministerial interest, rather than to the Commons.

Speaking during a visit to York University, Sir Keir said the allegation is “obviously serious” and called for an updated register of ministerial interests to be shared immediately.

“The prime minister promised integrity and accountability when he came into office so I think he needs to clear this up and declare his interests,” the Labour leader said.

“The register of ministerial interests hasn’t been published for nearly a year so I invite the prime minister to publish, at least, his entry on this issue today – clear this up, because he promised transparency.”

Sir Keir added: “Don’t hide behind the process, just come clean and tell everybody what the interest is so people can see it and judge it. That’s what transparency is.”

Downing Street said ethics adviser Sir Laurie Magnus – who was appointed in December after the post was left vacant by Boris Johnson and Liz Truss – will publish the new list “as quickly as possible”.

Parliamentary Commissioner for Standards Daniel Greenberg has opened an investigation under conduct rules demanding MPs are “open and frank” with their interests.

Tory Home Office minister Chris Philp said on Tuesday that Mr Sunak has not done “anything sinister” despite being investigated, insisting “no-one really doubts Rishi’s integrity and ethics”.

open image in gallery

Mr Sunak did not detail the shares when being questioned by MPs on the liaison committee about why one of his policies favoured private childcare firms.

During the select committee hearing, Labour MP Catherine McKinnell questioned why childminders will get twice the incentive for joining the profession if they sign up with private agencies. Asked if he had any interests to declare, Mr Sunak responded: “No, all my disclosures are declared in the normal way.”

The PM went on to write to the committee to say “that this interest has rightly been declared to the Cabinet Office”. He also said the new list of ministerial interests, which has not been updated for nearly a year, will be published “shortly”.

open image in gallery

The list of ministerial interests has not been updated for nearly a year, since May 2022, despite it usually being released every six months.

Downing Street has declined to set out exactly when Mr Sunak made the declaration to the Cabinet Office, but said No 10 ethics adviser Sir Laurie Magnus intended to soon return to the six-month “rhythm” for the ministerial register.

Koru Kids is one of six major private childcare agencies being consulted on a pilot scheme as part of the government’s childcare overhaul.

The government is to test incentive payments of £600 for childminders joining the profession, and £1,200 if they join through an agency like the firm Ms Murty has shares in. Such agencies are expected to see a major increase in business as a result of the plans.

Grilled on Mr Sunak’s failures to discuss the link in the committee, Mr Philp told GB News: “He has declared his wife’s interests in his ministerial declaration. He did draw attention to that to the committee when he gave evidence and he also wrote to them subsequently as well.”

“He will work with the standards commissioner to clear up any questions that are outstanding – but I don’t think there’s anything sinister here, he has made his declaration,” the Tory minister added.

Deputy Labour leader Angela Rayner said the delay in publishing the ministerial register has “left a transparency black hole which is enabling the prime minister and those he has appointed to dodge proper scrutiny of their affairs”.