Covid furlough cash was given to Rishi Sunak, Chancellor of India.



Angela Rayner, deputy Labour leader, has asked Rishi Sunak details about a mysterious loan he made a firm. It comes after Partygate this week saw the Chancellor being fined.

Rishi Sunak has come under ­further pressure over a mystery loan he made to a firm that went on to benefit from Covid support.

Accounts filed at Companies House until 2019 show the ­Chancellor was owed £652,499 by his wife Akshata Murty’s venture capital ­business Catamaran Ventures.

But in September, Ms Murty claimed the loan had been ­transferred to her five years previously.

However, she had signed three sets of accounts which stated the ­opposite and that her husband remained a “long term creditor”.

Angela Rayner (Deputy Labour Leader) demanded information about Mr Sunak’s loan. This week, Mr Sunak was penalized for Partygate.

She stated: “This looks like more than careless accounting.

“ Rishi Sunak must explain this financial mess and prove if and when the loan was passed back. If he can’t, there are serious questions about whether the ­Chancellor at best broke these rules too, and at worst privately benefited from crony investments.”

A spokesperson for Ms. Murty stated: “The transfer did take place correctly in 2015 but due to an administrative error was not reflected correctly until later accounts.”She would not confirm that there are records from 2015 to prove it took place.

Richard Murphy, Professor at Sheffield University of Accounting, stated: “It is the duty of a director of a company to keep proper records.

“In this case it appears the company either did not do so, or failed to reflect those records properly in its accounts from 2016 to 2018. In either case this is a serious failing. There should have been a record made in 2015 when Sunak transferred the loan.”

In 2013, Mr Sunak and his wife started Catamaran Ventures and loaned the company money to invest into UK businesses. In 2015, he was elected an MP and resigned as director.

But company accounts for 2016 to 2018 show he remained a ­creditor. Ms Murty filed new accounts last September claiming that she was the sole creditor.

She informed officials that she was getting a loan. “transferred”She admitted to it in 2015, but that her next three accounts were not as successful. “clear”. Catamaran invested in companies that claimed furlough money.

These include the gym business Digme Fitness and Mrs Wordsmith, a social club Lava Club Mayfair.

His wife, Mr Sunak, hoped to make money by investing in companies that earn dividends or selling investments for profit.