London Daily

Focus on the big picture.

Rishi Sunak's wife holds shares in childcare firm given Budget boost

Rishi Sunak's wife holds shares in childcare firm given Budget boost

Rishi Sunak is facing questions over shares his wife holds in a childcare agency that could benefit from a new policy unveiled in the Budget.

The Chancellor announced a pilot of payments for new childminders with more for those who sign through agencies.

Akshata Murty was listed as a shareholder in one of those agencies, Koru Kids, as recently as 6 March.

The prime minister's press secretary said all Mr Sunak's interests "have been declared in the usual way".

Ministers are expected to provide a written list of all financial interests that might "give rise to a conflict".

Mr Sunak mentions Ms Murthy's venture capital company, Catamaran Ventures, in his list of ministerial interests, but does not mention Koru Kids.

The PM also did not mention Ms Murthy's links to Koru Kids when he was questioned by MPs over the policy at a parliamentary committee hearing on Tuesday.

Labour MP Catherine McKinnell asked Mr Sunak whether he had any interest to declare, and in reply he said: "No, all my disclosures are declared in the normal way."

The Liberal Democrats say there are "are serious questions for Rishi Sunak to answer" about "any extra income his family could receive from his own government's policy", and have urged the government's ethics adviser, Sir Laurie Magnus, to investigate Mr Sunak over a potential breach of ministerial rules.

Labour's deputy leader Angela Rayner said Mr Sunak must explain why his wife's shareholding "was not deemed necessary to publish in the register of members' interests"."He must urgently correct the record and set out what steps he took to avoid an actual or perceived conflict of interest," Ms Rayner said.

When asked about Ms Murty's shareholding - which was reported by the i newspaper - Mr Sunak's press secretary told reporters the details of Ms Murthy's holding in the agency were not in the public domain, but indicated they would be included in the updated statement of ministers' interests, due out in May.

"The ministerial code sets out a process by which ministers declare their interests. They do that in writing, in this case to the Cabinet Secretary. That process was followed to the letter by the prime minister," the press secretary said.

Declarations to the Cabinet Office are not immediately available to MPs or others to see.

Pressed that MPs are usually expected to draw attention to an interest they have declared if questioned about it in a committee, Mr Sunak's press secretary said "there was not a specific interest that was put to him".

The BBC has sought to ask both the company and Ms Murthy for comment.

New incentives

The pilot of bonuses for childminders was announced in the Budget on 15 March as part of the government's overhaul of childcare.

Mr Hunt said the government would be "piloting incentive payments of £600 for childminders who sign up to the profession, rising to £1,200 for those who join through an agency".

The pilot could drive up the number of childminders entering the profession and generate more business for companies such as Koru Kids.

Koru Kids is listed as one of six childminder agencies on the government's website.

On its website, Koru Kids welcomed the government's reforms and said "the new incentives open to childminders are great".

The website says new childminders would get a bonus of £1,200 if they "come through an agency like Koru Kids who offer community, training and ongoing support".


Related Articles

London Daily
Kate Middleton's Public Absence Throughout 2024
Asylum Seekers Arriving In UK by Sea Exceed 10,000 This Year
UK Criticizes ICJ Order on Israel's Rafah Assault
Ukraine's Fight Against Corruption Gains Ground Amid War
Czech President Petr Pavel Injured in Motorcycle Accident
Record Number of Abortions in England and Wales
Paul McCartney Honours Bruce Springsteen at Ivor Novello Awards
US and UK to Reject ICJ Ruling on Israel's Rafah Offensive
World Court Orders Immediate Halt to Israeli Offensive in Gaza
Understanding FLiRT COVID Variants and Their Impact
Baltic NATO Members to Construct 'Drone Wall'
Global Life Expectancy Dropped By 2 Years Due To COVID-19
Macron Halts New Caledonia Voting Reform After Riots
Rishi Sunak Shelves Rwanda and Smoking Policies Ahead of Election
US Refuses World Court Jurisdiction
China Conducts Surprise Military Drills Around Taiwan
Grim Polls Predict Major Loss for PM Rishi Sunak
Rishi Sunak's Campaign for UK Election: Key Issues Highlighted
German Property Crisis Worsens as Foreign Investment Declines
Princess of Wales's Taskforce Calls for Business Investment in Early Childhood
Campaign Groups Condemn UK Report on Protests
Former Royal Marine Charged with Espionage Found Dead
Australian PM Calls for Julian Assange's Freedom
ICC Seeks Arrest Warrants for Israeli and Hamas Leaders
UK's Infected Blood Scandal: Conclusion Nears After Seven Years
Julian Assange Granted Right to Challenge US Extradition
Congo Army Thwarts Attempted Coup Involving Americans and a British Citizen
Ireland's Homeless Gain Voting Rights
Blinken orders crackdown on Israel-Hamas leaks
Julian Assange Faces US Extradition: Key Facts
Jacob Zuma Takes Campaign to ANC Stronghold Soweto
Attempted Assassination of Slovakia PM Robert Fico: Investigation Ongoing
What Happens If an Iranian President Dies in Office?
Spain Recalls Ambassador After Argentina President's Remarks
Rishi Sunak Faces Cabinet Backlash Over Proposed Changes to Foreign Student Visas
Rwanda Denies Entry to Human Rights Researcher
Iranian President Ebrahim Raisi Reportedly Killed in Helicopter Crash
Blue Origin Resumes Space Tourism with 90-Year-Old Ed Dwight
Rishi Sunak and Wife Akshata Murty Wealthier Than King Charles
New Dutch Government Drives Wedge Through EU Liberals
Iranian President Raisi Missing After Helicopter Goes Down
Freemasons and ‘Global War Party’ Accused of Conspiring Against Georgia
Poland Supports Rolls-Royce's Nuclear Power Plant Initiative
European Ports Overflow with Unsold Electric Vehicles
Esprit Files for Bankruptcy in Europe, Putting Hundreds of Jobs at Risk
Chevron Halts North Sea Drilling Amid Rising Tax Burden
Jeremy Hunt Accused of Exaggerating Conservatives' Economic Record
Victoria Atkins Discusses Historical Gender Bias in the NHS
Dublin and Monaghan Bombings 50th Anniversary: Calls for Justice
Rishi Sunak and Akshata Murty’s Wealth Rises to £651 Million