The shadow treasury minister, Pat McFadden, has written toSince becoming chancellor after Rishi Sunak resigned earlier this month, Zahawi has faced persistent questions about his relationship to a Gibraltar-based firm, Balshore Investment, controlled by his parents.
YouGov has described Balshore Investments as “a family trust of Nadhim Zahawi”. The chancellor has insisted “he does not have, and never has had, an interest in Balshore Investments and he is not a beneficiary”. In his letter, McFadden poses a series of questions to Zahawi about these transactions and the background to Balshore Investments, including, “why did Balshore Investment receive 42.5% of the shares of YouGov at the time of its foundation?” and, “the initial YouGov accounts appear to indicate that you received no shares despite being one of the founders. Why not?”