British Finance Minister Cleared by Standards Adviser Over Wife’s Tax Status

By PA Media
PA Media
PA Media
April 27, 2022 Updated: April 27, 2022

UK finance minister Rishi Sunak has been cleared of breaching the ministerial code by Boris Johnson’s standards adviser after considering the tax affairs of the Chancellor and his family.

Ministerial interests adviser Lord Geidt also ruled in Mr Sunak’s favour over allegations of conflicts of interest relating to the Chancellor having held a US permanent resident card.

Mr Sunak referred himself for investigation after it emerged his wife, Akshata Murty, held non-domiciled tax status, exempting her from paying UK tax on overseas earnings.

Lord Geidt found two instances where Ms Murty’s tax status “could have given rise to a conflict of interest” for the Chancellor.

But he found in the first instance the issue was properly declared, and in the second Mr Sunak assured a Treasury change for some non-dom individuals did not affect his wife.

In advice to the Prime Minister, Lord Geidt wrote: “I advise that the requirements of the ministerial code have been adhered to by the Chancellor, and that he has been assiduous in meeting his obligations and in engaging with this investigation.

“In reaching these judgments, I am confined to the question of conflicts of interest and the requirements of the ministerial code.

“My role does not touch on any wider question of the merits of such interests or arrangements.”

The adviser said he does not believe Mr Sunak having held a US green card “would constitute an inherent conflict of interest”.

Lord Geidt said he asked the Treasury to search for any policy that would have affected holders of the card and Mr Sunak’s department responded with “no such evidence”.

He was also satisfied there is no conflict of interest over Mr Sunak’s blind investment trust after the Chancellor assured he does not have “live knowledge” of the contents.

Lord Geidt was also satisfied Ms Murty’s shareholding in Infosys, an Indian IT company founded by her father, was “properly declared” and that it held no Treasury contracts during her husband’s tenure.

Public records show Infosys received more than £50 million in UK public sector contracts since 2015.

PA Media