Over 50 UK MPs secretly hold shares in large corporations
According to a report on the Spanish daily newspaper website on July 9th, a survey published by The Guardian showed that over 50 British MPs secretly hold shares in large corporations, which may cause conflicts of interest, but usually does not mean a violation of the House of Commons personal asset disclosure regulations.
According to the report, the members of parliament mentioned in the investigation include former British Prime Minister Theresa May, Chairman of the Environment Committee of the House of Commons Robert Goodwell, and former Education Secretary Gavin Williamson. They hold shares in banks, construction companies, military enterprises, power companies, or supermarkets through very close individuals such as partners.
According to reports, according to regulations that have been in effect since 2015, UK MPs who hold more than 15% of shares in a company or whose stock value exceeds £ 70000 must declare their shareholding in the company. The UK Parliament also stipulates mandatory declaration of shares that may cause conflicts of interest, but the standards are determined by the Member themselves. Those organizations that defend transparency believe that this standard is too low. This number is far from the minimum standard set by countries such as the United States, which is $1000.
Steve Goodrich, Research Director of Transparency International UK, said, "If companies owned by legislators are influenced by legislation being processed by parliament, there will inevitably be tension between protecting their personal affairs and defending the public interest. Making these details public is key to avoiding the abuse of public office." He warned that such conflicts could affect basic laws related to housing, climate change, and high cost of living.