A Government trade minister was paid almost £500,000 last year by the investment firm he co-founded, which continues to hold shares in the firm widely described as “Russia’s Google” despite the war in Ukraine 🔴 Exclusive from DavidParsley50
Chief News CorrespondentA Government trade minister was paid almost £500,000 last year by the investment firm he co-founded, which continues to hold shares in the firmDominic Johnson – Lord Johnson of Lainston, who was made a peer when he took up his ministerial post last October – received £471,842 in March last year as part of a £6.49m payout to partners and directors of Somerset Capital Management LLP .Lord Johnson relinquished his shares in SCM when he resigned last November.
“On taking up his position as minister, Lord Johnson relinquished his financial holdings in Somerset Capital to avoid any real or perceived conflict of interest.” From 2009-2019, Mr Rees-Mogg received about £180,000 a year as a part-time adviser working 30 hours a month for Somerset, but the firm said he has not taken any role in investment decisions since 2009.
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