TAX MINISTER’S FIRM HAS LINK WITH AMAZON
Top Tory accused of conflict of interest
A TREASURY Minister has been accused of a conflict of interest over links to tax-avoider Amazon.
Mel Stride, 56, has a controlling stake in Venture Marketing Group which provides “exhibition, publication and online services”, according to the register of MPs’ interests.
Current or previous clients include Amazon, which has been repeatedly accused of legal tax avoidance, HSBC, Lloyds and City fatcats JP Morgan.
All have an interest in tax policy, which is Mr Stride’s responsibility as Chief Secretary to the Treasury.
Rules state Ministers should avoid conflicts or perceived conflicts of interest. The Treasury website says Mr Stride’s role includes “strategic oversight of the tax system including direct, indirect, business, property and personal taxation”.
Documents filed with Companies House show he pocketed £59,000 from Venture Marketing last year.
They also state that in 2017 “the company was under control of the major shareholder MJ Stride”.
The previous year Chancellor Philip Hammond’s right-hand man took £115,000 in dividends, according to the documents. The complaint comes as Tories gather for their conference in Birmingham tomorrow.
The campaigning Loan Charge Action Group wrote to the Cabinet Secretary demanding a probe into the “clear conflict of interest”.
The letter says: “There is very clearly a potential (and we believe an actual) conflict of interest between Mr Stride’s controlling interest of Venture Marketing Group – with financial services clients and Amazon – and his role as a Treasury Minister.”
Spokesman Richard Horsley said: “It beggars belief that the Minister who makes tax policies is at the same time earning thousands from a company that boasts Amazon, tax advisers and banks as clients.”
However, a Cabinet Office spokeswoman said: “The Minister has fully complied with the requirements of the ministerial code.” And a Treasury spokesman added: “Any assertion to the contrary is completely false.”