Rishi Sunak’s link to childcare firm added as footnote to list of interests as probe continues

Wife Akshata Murty’s ‘minority shareholding’ in Koru Kids noted in first ministerial register in 12 months

Rishi Sunak’s link to a childcare company boosted by Jeremy Hunt’s recent Budget has been included in a new list of ministerial interests – but only as a footnote.

The new register – updated for the first time in a year – contains a reference to the Koru Kids firm that Mr Sunak’s wife holds shares in amid a row over declarations.

Mr Sunak is under investigation by parliament’s sleaze watchdog over allegations of a possible failure to declare the shares held by Akshata Murty in the childcare agency.

Under the section for relevant interests held by Ms Murty, the new explanation is very similar to the 2022 list – explaining that she owns a venture capital investment company.

But it adds that she has “a number of direct shareholdings”. And a footnote note says this includes her “minority shareholding” in Koru Kids.

It has also emerged from the list of interests that deputy PM Dominic Raab has paid for his own lawyers for the investigation into allegations he bullied civil servants.

“The minister has engaged lawyers at his own expense in relation to the investigation being conducted by Adam Tolley KC,” the updated list states.

Boris Johnson has used more than £220,000 of taxpayers’ cost of lawyers for MPs inquiry into Partygate, a government decision being looked at by the National Audit Office.

Labour leader Sir Keir Starmer had demanded on Tuesday that Mr Sunak must “come clean” publish his updated financial interests immediately – saying the investigation launched by was parliament’s standards commissioner was “obviously serious”.

Koru Kids is one of six major private childcare agencies being consulted on a pilot scheme as part of the government’s childcare overhaul.

Rishi Sunak and wife Akshata Murty ((Toby Melville/PA))

The government is to test incentive payments of £600 for childminders joining the profession, and £1,200 if they join through an agency like the firm Ms Murty has shares in. Such firms are expected to see a major increase in business as a result of the plans.

But Mr Sunak did not detail his wife’s shares when being questioned by the liaison committee about why his policy favoured private childcare firms. Asked by MPs if he had any relevant interests to declare, Mr Sunak said: “No, all my disclosures are declared in the normal way.”

The PM went on to write to the committee to say “that this interest has rightly been declared to the Cabinet Office” – but No 10 has not said exactly when he flagged his wife’s shares to the department.

Mr Sunak’s ethics adviser Sir Laurie Magnus said he was content that “any actual, potential and perceived” conflicts of interests involving ministers “have been, or are in the process of being” resolved.

Rishi Sunak with his wife at childcare hub (Getty)

Downing Street refused to say exactly when Mr Sunak declared his wife’s Koru Kids shares – but his spokesperson emphasised that his interests had been looked at by three independent advisers.

No 10 also stressed it was the decision of the ethics adviser what is relevant, and said Mr Sunak has no plans to change the rules around declarations – describing the current system as “robust”.

Sir Laurie also explained that the list does not include “every interest that a minister has declared in relation to themselves and their family members” – saying it would “represent an excessive degree of intrusion into the private affairs”.

He said: “The list instead documents those interests, including of close family, which are, or may be perceived to be, directly relevant to a minister’s ministerial responsibilities.”

The ethics adviser added: “I am content that any actual, potential and perceived conflicts have been, or are in the process of being, resolved, but it is important that ministers and their permanent secretaries remain alert ... if ministers’ interests change.”

Labour’s deputy leader Angela Rayner said the prime minister was “failing to deliver the integrity he promised” and had “chosen to preserve the rotten standards regime of his predecessors”.

Calling for independent ethics body, Ms Rayner said: “There will be no accountability while the Prime Minister continues to mark his own homework on ethics. We need stronger rules and tougher enforcement to give the public the transparency and accountability they deserve.”

The list of ministerial interests has not been updated for nearly a year, since May 2022, despite it usually being released every six months. No 10 said Sir Laurie intended to return to the six-month “rhythm” for the ministerial register.