The British Secretary of State for the Treasury, Tulip Siddiq, resigned this Tuesday after weeks of questions about his financial ties to his aunt Sheikh Hasina, ousted last year as prime minister of Bangladesh.
Siddiq, 42, had repeatedly denied any wrongdoing, and British Prime Minister Keir Starmer said last week that I completely trusted her. The resignation of a second member of the Executive in two months – following the departure of the Minister of Transport, Louise Haigh – is a serious blow for the leader of the Government, whose approval ratings have plummeted since the Labor Party won the elections generals in July.
After the elections, Siddiq assumed the portfolio of Financial Services Policya role that included responsibility for anti-money laundering measures. In a statement, he said that although an investigation into his financial affairs concluded that he had not breached the ministerial code of conduct, his position was “likely to distract from the work of the Government.”
“Therefore, I have decided to resign from my ministerial position,” he declared. Starmer has quickly appointed Emma Reynoldswho was pensions minister, to take Siddiq’s place.
An independent review has confirmed that I have not breached the Ministerial Code and there is no evidence to suggest I have acted improperly.
Nevertheless, to avoid distraction for the Government, I have resigned as City Minister.
Here is my full letter to the Prime Minister. pic.twitter.com/kZeWZfEsei
— Tulip Siddiq (@TulipSiddiq) January 14, 2025
Hasina, who has ruled Bangladesh since 2009, is being investigated there for suspicions of corruption and money laundering which both she and her party deny.
Financial irregularities
Siddiq was named in December as part of the investigation into whether her family was involved in diverting funds from Bangladeshi infrastructure projects.
The anti-corruption commission alleged financial irregularities worth billions of dollars in the award of a $12.65 billion nuclear energy contract and claimed that Hasina and Siddiq could have benefited.
After facing fresh scrutiny over the use of properties in Britain linked to Hasina and her supporters, Siddiq referred to the independent government ethics advisor.
Siddiq lived in a property in north London gifted to his family in 2009 by Moin Ghania Bangladeshi lawyer who has represented the Hasina Government, according to documents filed with the Commercial Registry and the Property Registry.
He also acquired another property in London in 2004, without paying for it, a promoter linked to the Awami LeagueHasina’s political party, as reported this month by the ‘Financial Times’. The former prime minister fled Bangladesh after being overthrown following weeks of protests.
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