'Ms Villiers deeply regrets her failure to monitor the value of shareholdings and has offered her sincere apologies.'
Yet another Tory MP has failed to live up to the standards of ‘professionalism and integrity’ that Rishi Sunak promised us on the steps of Downing Street.
Theresa Villiers, the MP for Chipping Barnet, failed to declare that she had shares valued at more than £70,000 in Shell while she was previously environment secretary. She served in the role from July 2019 until February 2020.
Villiers admitted her shareholding in the oil and gas company via her latest update to the register of members’ financial interests. The register shows the entry under the heading of “other shareholdings, valued at more than £70,000”, with the dates listed from 23 February 2018, Shell PLC; energy. (Registered 17 July 2023).
A spokesman for Ms Villiers told the Daily Mirror: “Ms Villiers deeply regrets her failure to monitor the value of shareholdings and has offered her sincere apologies.
“These shares are part of portfolio which is professionally managed for Ms Villiers and for which she has never taken day-to-day investment decisions.
“It did not occur to her that any single shareholding would reach the threshold for declaration, but a legacy received in 2018 caused that to happen.
“As soon as she realised this, she alerted the registrar of members’ interests and the standards commissioner. She takes full responsibility for the mistake.
“She accepts that it should never have happened, and that she should have kept track of the additions to her investment portfolio. She is taking steps to ensure that this never happens again.
“Nothing she has ever said or done as MP has been influenced by these shareholdings.”
Basit Mahmood is editor of Left Foot Forward
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