Nadhim Zahawi has announced he's landed a new role as Chair of an online retailer just days after announcing he will stand down at the general election

Nadhim Zahawi has announced he will be taking up a new role as Chair of an online retailer owned by the billionaire Barclay Brothers, just days after announcing his resignation as an MP. 

Zahawi is one of a growing number of Tory MPs who have announced they will be standing down at the next general election. The former Chancellor said it was time for a “new, energetic Conservative” to represent Stratford-on-Avon. 

Mere days after announcing he will stand down, it’s now revealed he will be starting a new role as chair of The Very Group, an online retailer owned by the Barclay family. He is expected to start the role on 1 June

Previously seen as a popular choice for leader among Tory party members, he was appointed Chancellor under Boris Johnson after Rishi Sunak dramatically quit in July 2022. However he too turned on Johnson just days later and went on to make an unsuccessful bid to replace Johnson. He was the shortest serving Chancellor since 1970. 

Under Sunak, Zahawi was sacked as Tory Party Chairman after an inquiry found that he had failed to disclose that HMRC was investigating his tax affairs, having previously been responsible for the UK’s tax system. During an interview on Sunday with the BBC the Tory MP confirmed that he had to pay nearly £5m to authorities to settle his tax affairs. 

Back in 2013 he was embroiled in the MPs expenses scandal when he was forced to apologise for claiming taxpayer money for energy bills on his second-home that were paying to heat his stables, which he then reimbursed. 

One of the wealthiest people in the House of Commons, Zahawi founded the market research firm YouGov and is estimated to have a net worth between £30m and £100m.

Hannah Davenport is news reporter at Left Foot Forward

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