UK publishes list of PM Sunak, ministers' interests

The British government released an updated list of the interests of other ministers, including Prime Minister Rishi Sunak. The release comes at a time when Sunak is under investigation by the parliament’s standards watchdog over whether he properly declared his wife’s shareholdings.

The government released the list on Wednesday through the Cabinet Office, referring to Sunak’s wife, Akshata Murthy, as a “venture capital investor” in light of the probe into Sunak. The list detailed that Murthy has a “number of direct shareholdings,” including the “minority shareholding” related to her company, Koru Kids. Sunak and Murthy are considered the wealthiest occupants of the Prime Minister’s residence at Number 10 Downing Street.

The British Parliament’s Standards Commissioner launched the investigation into Sunak on April 13. The probe was to determine whether Sunak properly declared Murthy’s shareholding in a childcare company that stands to benefit from a new government policy that would support childcare.

Sunak’s spokesperson said Murthy’s shareholding in Koru Kids was properly declared, while opposition lawmakers called on Sunak to publish a list of ministerial interests to boost transparency in the government. Sunak previously pledged to run a government with integrity “at every level” in an effort to revive the governing Conservative Party’s chances in the upcoming 2024 elections.

Sunak and Murthy have previously come under fire during his time as finance minister over Murthy’s “non-domiciled” tax status, meaning that she did not pay tax in the UK on her overseas earnings. Murthy later gave up the status and said she would pay British tax on her global income.

On the same day, British finance minister Jeremy Hunt said that Western countries and allies should avoid setting up protectionist trade barriers to gain an edge in technology. In an event hosted by Politico, Hunt said that to do so would “bring global growth back into the Dark Ages.”

“Or do we recognize the benefits of free trade and say that, amongst friends and allies and people who share democratic values, we’re going to build up resilient supply chains that we know will weather any global storms that we face?” said Hunt.

Hunt’s comments come as the UK has expressed concerns over US subsidies that would bring investment into industries like clean energy in the US, prompting the European Union to take similar measures. Hunt added that the UK would stay competitive in innovation.