Bangladesh Finance Minister Tulip Siddique has resigned after mounting pressure on an anti-corruption probe.
The Labor MP for Hampstead and Highgate referred himself to Sir Keir Starmer’s standards adviser, Sir Laurie Magnus, but insisted he had done nothing wrong.
He said that while Sir Laurie found that he had not breached ministerial rules, it was clear that continuing in my role as Economic Secretary to the Treasury could be a distraction from the work of government.
Labor MP Emma Reynolds has been appointed as the new Economic Secretary to the Treasury.
Siddique, whose ministerial role included tackling corruption in Britain’s financial markets, was named last month in an investigation into claims his family embezzled up to £3.9bn from infrastructure spending in Bangladesh.
His aunt is former Bangladeshi Prime Minister Sheikh Hasina, head of the Awami League, who went into exile after being ousted last year.
Siddiq has also come under intense scrutiny for using properties linked to his aunt’s allies in London.
The MP insists he has done nothing wrong, but the prime minister has faced calls from Conservative leader Cammy Bedenock to sack the minister.
In a letter accepting his resignation, Sir Kerr said the “door is open” to him.
Sir Laurie Magnus, an independent adviser to ministerial standards, said he had “not identified evidence of malice” linked to Siddique.
In a letter to the Prime Minister, Sir Laurie said: “The lack of records and the lack of time mean that, unfortunately, I have not been able to obtain comprehensive relief in relation to all property matters in the UK. The media
“However, I have not identified any evidence of improprieties connected with actions taken by Ms Siddique and/or her husband in relation to their ownership or occupation of the London properties which have been the subject of press attention.
“Similarly, I do not find any suggestion of any unusual financial arrangements relating to Ms. Siddique’s ownership or possession of the properties in question by the Awami League (or its affiliated organizations) or the State of Bangladesh.
“Furthermore, I have found no evidence to suggest that the financial assets of Ms. Siddiq and/or her husband, as disclosed to me, were derived from anything other than legitimate sources. done.”
But he said it was “regrettable” that Siddiq was “not more alert to the potential reputational risks” of his immediate family’s association with Bangladesh.