• Privacy policy
  • T&C’s
  • About Us
    • FAQ
    • Meet the Team
  • Contact us
  • Guest Content
TLE ONLINE SHOP!
  • TLE
  • News
  • Politics
  • Business
  • Sport
  • Opinion
  • Elevenses
  • Entertainment
    • All Entertainment
    • Film
    • Lifestyle
      • Horoscopes
    • Lottery Results
      • Lotto
      • Thunderball
      • Set For Life
      • EuroMillions
  • Food
    • All Food
    • Recipes
  • Property
  • Travel
  • Tech/Auto
  • JOBS
No Result
View All Result
The London Economic
SUPPORT THE LONDON ECONOMIC
NEWSLETTER
  • TLE
  • News
  • Politics
  • Business
  • Sport
  • Opinion
  • Elevenses
  • Entertainment
    • All Entertainment
    • Film
    • Lifestyle
      • Horoscopes
    • Lottery Results
      • Lotto
      • Thunderball
      • Set For Life
      • EuroMillions
  • Food
    • All Food
    • Recipes
  • Property
  • Travel
  • Tech/Auto
  • JOBS
No Result
View All Result
The London Economic
No Result
View All Result
Home Politics

Sunak’s wife held shares in collapsed firm that received £300k taxpayer loan

'The New Craftsmen' received a bounce-back loan and a Future Fund loan, both of which were set up by Sunak as chancellor.

Jack Peat by Jack Peat
2023-02-13 11:43
in Politics
FacebookTwitterLinkedinEmailWhatsapp

Rishi Sunak’s wife, Akshata Murty, held shares in a firm that received nearly £300,000 in taxpayer-funded loans handed out during the PM’s time as chancellor, according to Guardian reports.

The New Craftsmen, a company selling up-market pieces of furniture, collapsed into liquidation in November 2022, according to Companies House filings.

It shows the firm received £37,500 under the Covid bounce-back loan scheme introduced by Sunak in April 2020 and that the government also held 450,000 shares in the company via the Future Fund, also set up by Sunak to help small startups ride out the pandemic.

Under the scheme, the government extended loans that would then convert into shares when the companies attracted new funding.

A source familiar with the loan said the government lent The New Craftsmen £250,000, a sum that was matched by private investors.

The loan was converted into equity, Company House fillings suggest, the value of which has been wiped out.

Among the investors listed on the company’s shareholder register are Prudence MacLeod, the eldest child of Rupert Murdoch, and Akshata Murty, who held 218,785 shares in the business through Catamaran Ventures UK.

Murty also held shares personally in Lava Mayfair Club, a private members’ gym that buckled under the weight of Covid restrictions in 2021, with debts to HMRC of £374,000.

Another Catamaran investment, the fitness chain Digme Fitness, fell into administration in 2021, owing more than £6.1 million in VAT and PAYE taxes, after having received furlough payments of up to £630,000.

RelatedPosts

Corbyn says he’s going nowhere following Starmer snub

Jeremy Corbyn’s 40 years as MP for Islington North in numbers

‘Scotland is a European nation’: Humza Yousaf calls for return to the EU

Afghan refugees ‘to be evicted from hotels’

Related: Lee Anderson faces calls to resign over links to ‘white supremacists’

Content Protection by DMCA.com

Since you are here

Since you are here, we wanted to ask for your help.

Journalism in Britain is under threat. The government is becoming increasingly authoritarian and our media is run by a handful of billionaires, most of whom reside overseas and all of them have strong political allegiances and financial motivations.

Our mission is to hold the powerful to account. It is vital that free media is allowed to exist to expose hypocrisy, corruption, wrongdoing and abuse of power. But we can't do it without you.

If you can afford to contribute a small donation to the site it will help us to continue our work in the best interests of the public. We only ask you to donate what you can afford, with an option to cancel your subscription at any point.

To donate or subscribe to The London Economic, click here.

The TLE shop is also now open, with all profits going to supporting our work.

The shop can be found here.

You can also SUBSCRIBE TO OUR NEWSLETTER .

Subscribe to our Newsletter

View our  Privacy Policy and Terms & Conditions

Trending on TLE

  • All
  • trending

Elevenses: Exposing the Tories’ Deepfake Illegal Immigration Bill

Elevenses: Rishi’s Finest Hour

Elevenses: Fear and Loathing in the New Conservatives

More from TLE

Top reactions as ‘Johnny Foreigner’ trends on Twitter after Government threatens to deploy Navy

Heatwave: Hill walkers find the perfect way to cool off at the top of Ben Nevis

VIDEO – Iceland PM storms out of interview about Panama firm

‘Boris, Gove should face JAIL for Brexit red bus lies’ – Lord Sugar

We should take time to understand anti-vaxxer’s concerns, rather than just condemn them

Labour MPs unlikely to back May’s withdrawal bill, McDonnell claims

Four-year-old among thousands of children caught with weapons at school as crisis escalates

Pound actually goes back up as Boris Johnson loses his majority

Liverpool star makes up for early spot-kick miss with two goals as Senegal sink Kenya

Parents so obsessed with Game of Thrones they named their kids after show’s characters

JOBS

FIND MORE JOBS

About Us

TheLondonEconomic.com – Open, accessible and accountable news, sport, culture and lifestyle.

Read more

Contact

Editorial enquiries, please contact: [email protected]

Commercial enquiries, please contact: [email protected]

Address

The London Economic Newspaper Limited t/a TLE
Company number 09221879
International House,
24 Holborn Viaduct,
London EC1A 2BN,
United Kingdom

SUPPORT

We do not charge or put articles behind a paywall. If you can, please show your appreciation for our free content by donating whatever you think is fair to help keep TLE growing and support real, independent, investigative journalism.

DONATE & SUPPORT

© 2019 thelondoneconomic.com - TLE, International House, 24 Holborn Viaduct, London EC1A 2BN. All Rights Reserved.




No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Entertainment
  • Lifestyle
  • Food
  • Travel
  • JOBS
  • More…
    • Elevenses
    • Opinion
    • Property
    • Tech & Auto
  • About Us
    • Meet the Team
    • Privacy policy
  • Contact us

© 2019 thelondoneconomic.com - TLE, International House, 24 Holborn Viaduct, London EC1A 2BN. All Rights Reserved.