Financial transparency campaigners and MPs have urged the Chancellor to disclose if any of his wealth is invested in offshore tax havens, it has been reported.
The Chancellor is under mounting pressure to reveal the whereabouts of the investment of his multimillion-pound personal fortune following widespread speculation that some of his wealth, which is presently managed by a blind trust, could be held in offshore tax havens.
According to The Guardian, the son-in-law of Indian corporate Narayan Murthy registered a blind trust in July 2019 following his appointment as Chief Secretary to the Treasury under former chancellor, Sajid Javid. The daily has reported that under a standard-blind-trust-arrangement-individuals can still receive income from their investments but cannot make decisions about how the money is invested.
Now, some campaigners and MPs are concerned that Rishi Sunak will know where his money was invested before he placed it in the blind trust, and that raises concerns that his decisions as Chancellor could be influenced by his personal stakeholdings.
