Tulip Siddiq has officially resigned from her position as Treasury minister, following a series of probing questions regarding her financial connections to the ousted Bangladeshi government led by her aunt, Sheikh Hasina.
Siddiq, who previously held the titles of City and anti-corruption minister, was cleared of any wrongdoing by Laurie Magnus, the adviser on ministerial standards, concerning her use of properties allocated to her and her family. However, Magnus advised Keir Starmer that Siddiq should have been more mindful of the reputational risks associated with her family’s ties to Bangladesh, prompting consideration of her ongoing responsibilities.
In her resignation statement, Siddiq asserted that she had fully disclosed all financial interests and relationships but acknowledged that the situation had become a distraction for the government. This marks the second resignation of a prominent woman from Starmer’s cabinet over ethical concerns, following Louise Haigh’s departure as transport secretary last year due to a fraud conviction.
In her letter to Starmer, Siddiq expressed her desire for the independent adviser to clarify that she had acted appropriately. “However, it is clear that continuing in my role as economic secretary to the Treasury is likely to be a distraction from the work of the government,” she stated. She reaffirmed her loyalty to the Labour government and its agenda for national renewal and transformation.
Starmer accepted her resignation “with sadness,” indicating a potential return to ministerial duties in the future. He emphasized that Magnus had found no code violations or evidence of financial misconduct, appreciating Siddiq’s difficult decision to mitigate ongoing distractions from the government’s objectives.
Siddiq’s role as City minister will be filled by Emma Reynolds, a minister from the Department for Work and Pensions, while Torsten Bell, a new MP and former chief executive of the Resolution Foundation, will step in as pensions minister.
Earlier this month, Siddiq had referred herself to Starmer’s adviser on ministerial standards after it was revealed that she resided in multiple properties linked to individuals associated with her aunt’s regime. Under scrutiny for her occupancy of various residences, including a two-bedroom flat near King’s Cross, Siddiq faced mounting pressure over her connections to the former Bangladeshi government.
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