The not-so-blind trust: How ministers see their investments without looking
What if Rishi Sunak has invested his wealth in Oil and Gas shares? This is worth considering because if he has, his reluctance to impose a substantial windfall tax on Oil companies’ excessive profits would have a new significance.
What if Rishi Sunak has invested his wealth in Oil and Gas shares? This is worth considering because if he has, his reluctance to impose a substantial windfall tax on Oil companies’ excessive profits would have a new significance.
📌 The main points...
- Prime ministers such as Rishi Sunak and ministers use “blind trust/blind management” arrangements to avoid conflicts of interest.
- These ‘blind’ arrangements are ineffective and structurally prone to failure because ministers appoint their trustee/fund manager.
- Lack of transparency prevents ministers from being held accountable.
- ‘Blind’ trust arrangements fail to prevent potential abuse by politicians and lack supervision.
R ishi Sunak may indeed own those investments, but we are not authorised to be privy to such information, the Good Law Project said.
All we can ascertain is that his investments are managed through a “blind trust/blind management” arrangement, as outlined in the Register of Ministerial Interests. The rationale behind this setup, and similar ones held by other Ministers, is to ensure that individuals who hold extraordinary powers to enhance the financial prospects of businesses and sectors do not exploit these powers for personal gain.
CONTINUE READING...
Enjoy unlimited access now.
To get full access to this article,
simply become a member of PUBLIC SQUARE now.
By doing so, you will be supporting
our independent journalism.
MEMBERSHIP OPTIONS:
£3/month ∙ £5/month ∙ £7/month
You can cancel anytime.
BECOME A MEMBER
Already a member? Sign in here!
BENEFITS OF MEMBERSHIP:
✅ Read exclusive member-only articles
✅ Read our daily review of the UK front pages
✅ Receive every new article by email
✅ Access all our articles
✅ Get Special Discounts with our partners
✅ Join the conversation: Comment our articles
✅ Access our archives
✅ More importantly: Support independent journalism and keep the magazine going
Read more
— Donald Trump’s re-election signals potential setbacks for global climate ambitions, yet some experts believe the momentum towards renewables and the green economy will persist, challenging Trump’s fossil fuel focus.
— After German Chancellor Olaf Scholz dismissed Finance Minister Christian Lindner, effectively collapsing the government coalition, Conservative leader Friedrich Merz, who aligns with Trump-style policies, has called for immediate elections in Germany.
— Your daily roundup of the front pages of the main newspapers and magazines today in the UK... and beyond.
— Labour’s Brexit policy centres on minor adjustments, avoiding rejoining debates despite economic drawbacks. Health Secretary Wes Streeting admitted Brexit’s economic costs, while backbenchers push for closer EU ties, challenging Labour’s restricted approach.
|
|
