Theresa Villiers: Ex-environment secretary failed to declare Shell shares

A erstwhile situation caput has revealed she failed to state tens of thousands of pounds of shares she held successful lipid elephantine Shell portion successful the role.

On Thursday, Tory MP Theresa Villiers said she had held a involvement successful the steadfast worthy implicit £70,000 since February 2018, a twelvemonth earlier she started the job.

But she lone declared it past period - on with akin shareholdings successful drinks elephantine Diageo and concern steadfast Experian.

She has apologised for the "mistake".

A spokesperson said she "deeply regrets her nonaccomplishment to monitor" the worth of the shares. MPs are meant to state each shareholdings worthy implicit £70,000.

The spokesperson added that it had not occurred to her that immoderate of the stakes would walk the threshold, but they did aft she received a bequest successful 2018.

They added that Ms Villiers, MP for the London spot of Chipping Barnet, alerted the Commons authorities "as soon arsenic she realised this".

Her latest declaration reveals she has held a involvement worthy much than £70,000 successful Shell since February 2018, a twelvemonth earlier she became situation caput nether Boris Johnson successful July 2019, a relation she held until February 2020.

She registered the involvement connected 17 July this year, on with stakes implicit the aforesaid magnitude successful drinks multinational Diageo, besides from February 2018, and user recognition steadfast Experian, from July 2019.

On the aforesaid day, she besides registered a shareholding implicit the threshold successful RIT Capital Partners, an concern trust.

On 2 August, she registered a 5th involvement implicit the magnitude successful Scottish Mortgage Investment Trust, with records showing she held it betwixt 6 and 20 July this year.

The spokesperson for Ms Villiers said her shares were portion of a professionally-managed portfolio, for which she "has ne'er taken day-to-day concern decisions".

They added that "nothing she has ever said oregon done arsenic MP has been influenced by these shareholdings," but she was "taking steps to guarantee that this ne'er happens again".

"She takes afloat work for the mistake. She accepts that it should ne'er person happened, and that she should person kept way of the additions to her concern portfolio," they added.

The shareholdings she held during her clip arsenic situation caput did not look connected the abstracted ministerial registry of interests published during her clip successful the job.

The spokesperson said that erstwhile she started the role, she told the section astir her shares and offered to enactment them successful a "blind" trust, wherever she would not person known however the wealth was invested.

However the premier minister's morals advisor astatine the time, Sir Alex Allan, advised her this was unnecessary due to the fact that "the portfolio was managed for her and she did not instrumentality concern decisions," they added.

"Nothing she did arsenic [environment] caput was influenced by immoderate of these shareholdings," the spokesperson added.

Ms Villiers entered Parliament successful 2005 and was a obstruction curate for conscionable implicit 2 years nether David Cameron.

She was promoted to Northern Ireland Secretary successful 2012, a relation she held until Mr Cameron's resignation aft the Brexit referendum successful 2016.

She returned to the furniture successful the situation relation nether Mr Johnson, but was reshuffled retired of his furniture 9 months later.