Sunak faces questions as wife's firm may benefit from UK policy

UK Prime Minister Rishi Sunak is on the defensive after it emerged that Akshata Murthy, his wife,has shares in a childcare agency which may benefit from a new policy announced in the recent budget.

The agency, named Koru Kids, lists UK PM's billionaire wife as a shareholder, may benefit from a scheme announced by UK finance minister Jeremy Hunt. The policy offers 1200 pounds to individuals who train to become child-minders through an agency, as reported by The Guardian.

Appearing before the liaison committee this week, Sunak did not mention his wife's interest when speaking about the childcare changes.

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"No, all my disclosures are declared in the normal way," he told Labour MP Catherine McKinnell when she asked him whether he had anything to declare.

UK's public register of ministerial interests was last updated in June 2022. It only mentions that Akshata owns Catamaran Ventures UK Ltd, a venture capital investment company.

Wendy Chamberlain, the Liberal Democrat chief whip, wrote to Sir Laurie Magnus, the independent adviser on ministerial interests, highlighting the provision in the code that requires ministers to avoid conflicts between their public duties and private interests.

"The Prime Minister's family does appear to have a relevant financial interest in Koru Kids - which has benefited from a recent change to government policy. There is a clear question as to whether articles 7.1 and 7.7 of the ministerial code have been breached," The Guardian quoted Chamberlain as saying.

"Rishi Sunak must explain why he failed to come clean when asked about the shares his family held in a company now set to financially benefit from a childcare policy announced in his budget," Angela Rayner, Labour's deputy leader, said.

Sunak's spokesperson said,"He has followed the process in terms of declaring his interests as set out in the ministerial code". The spokesperson was quoted by IANS.

According to BBC, the new scheme could drive up the number of childminders entering the profession and generate more business for companies such as Koru Kids, which is listed as one of six childminder agencies on the government's website.

The agency welcomed the government's reforms on its website and said "the new incentives open to childminders are great". The website says new childminders would get a bonus of 1,200 pounds if they "come through an agency like Koru Kids who offer community, training and ongoing support".

(With inputs from agencies)

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