Tulip Siddiq, the British Treasury Minister, resigned on January 14 after facing repeated questions about her financial connections with the ousted Bangladeshi government led by her aunt, Sheikh Hasina.
In her resignation letter to UK Prime Minister Keir Starmer, Tulip, 42, maintained she had done nothing wrong but acknowledged that continuing in office would likely “be a distraction from the work of the government.”
Tulip, whose ministerial role included tackling corruption in UK financial markets, stated she had fully declared all her financial interests and relationships.
Earlier this month, she had referred herself to Laurie Magnus, Starmer’s Adviser on Ministerial Standards, after reports emerged that she had lived in multiple properties associated with individuals linked to Sheikh Hasina.
Magnus found no evidence that Tulip had broken any rules, as noted in a letter from the UK Prime Minister.
Labour MP Emma Reynolds has been appointed as the new Economic Secretary to the Treasury.
Tulip came under scrutiny for her occupancy of properties, including a two-bedroom flat near King’s Cross in central London and a separate home in Hampstead.
In her resignation letter, Tulip said:
“I am grateful to your Independent Adviser on Ministerial Standards, Sir Laurie Magnus, for acting with speed and thoroughness in response to my self-referral, and for giving me the opportunity to share the full details of my finances and living arrangements, both present and historic.
As you know, having conducted an in-depth review of the matter at my request, Sir Laurie has confirmed that I have not breached the Ministerial Code. As he notes, there is no evidence to suggest that I have acted improperly in relation to the properties I have owned or lived in, nor to suggest that any of my assets derive from anything other than legitimate means.
My family connections are a matter of public record, and when I became a minister, I provided the full details of my relationships and private interests to the government. After extensive consultation with officials, I was advised to state in my declaration of interests that my aunt is the former Prime Minister of Bangladesh and to recuse myself from matters relating to Bangladesh to avoid any perception of a conflict of interest. I want to assure you that I acted and have continued to act with full transparency and on the advice of officials on these matters.
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. My loyalty is and always will be to this Labour government and the programme of national renewal and transformation it has embarked upon. I have therefore decided to resign from my ministerial position.
I would like to thank you for the privilege of serving in your government, which I will continue to support in any way I can from the backbenches.”