Rishi Sunak, the British Prime Minister, is being investigated by parliament’s standards watchdog over whether he properly declared his wife’s shareholding in a childcare company that stands to benefit from the new government policy.
According to a list of open inquiries on Parliament’s website on Monday, the investigation into a “declaration of interest” began on April 13.
Opposition parties had raised concerns about media reports that Sunak’s wife, Akshata Murthy, was a shareholder in a company set to benefit from childcare sector support announced in the March budget.
“We are happy to assist the commissioner in clarifying how this has been transparently declared as a ministerial interest,” said Sunak’s spokesperson, confirming the investigation was related to the childcare firm.
The investigation is an embarrassment for Sunak, who took office in October promising to lead a government with integrity “at every level” in order to boost his party’s fortunes ahead of a national election next year.
Sunak and Murthy are the wealthiest people to ever live on 10 Downing Street. Murthy is the daughter of one of Infosys’ founders and owns about 0.9% of the company, which is worth nearly $600 million based on Monday’s share price.
While Sunak was finance minister, the couple faced criticism and public outrage over Murthy’s “non-domiciled” tax status, which meant she did not pay tax in Britain on her earnings abroad. She later renounced her status and stated that she would pay British tax on her worldwide earnings.
The commissioner, who did not provide any details about the investigation, is in charge of the House of Commons code of conduct and investigates any alleged violations.
Members of parliament are required by the code of conduct to disclose any financial interests that could reasonably be thought to influence their work in parliament.
If the investigation reveals a violation, the Commissioner can order Sunak to apologize and outline steps to avoid future mistakes or refer him to a committee with the authority to suspend or expel him from parliament.
Sunak, according to Opposition Labour Party deputy leader Angela Rayner, should publish an updated register of ministerial interests before municipal elections next month, citing a “transparency black hole” that allows the prime minister and those he has appointed to avoid proper scrutiny of their affairs.
