Rishi Sunak criticised for ‘surprise’ honours list including major Tory donor Mohamed Mansour
Rishi Sunak has been criticised for announcing a “surprise” round of honours – including a knighthood for a major donor to the Conservative Party.
It was announced on the Thursday before the Easter bank holiday weekend that Mohamed Mansour was being knighted for business, charity and political service – he had given £5m to the Tories in 2023 and is a senior treasurer at the party.
A number of Conservative MPs were also made knights and dames.
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Labour’s chair, Anneliese Dodds, said Mr Sunak‘s nominations were “either the arrogant act of an entitled man who’s stopped caring what the public thinks, or the demob-happy self-indulgence of someone who doesn’t expect to be prime minister much longer”.
Asked by Sky News if Labour would rule out giving donors honours if they were in government, Ms Dodds said giving money should not be an “automatic pass”.
Following the announcement, Mr Mansour said: “This award is the greatest honour of my life. I am thrilled and hugely grateful.
“This award would have meant so much to my father and mother. I wish they could have lived to see this day. This honour is for them, for the values they taught my siblings and I and for everything they did for us.”
Downing Street sources highlighted Mr Mansour’s work supporting charities – including financially backing a memorial to those who died due to COVID.
Speaking to Sky News, Conservative peer and polling expert Lord Robert Haywood said the public would be “unhappy” with the move.
While some non-political figures – like director Christopher Nolan – were also knighted, it’s the political acts that will draw attention.
Mohamed Mansour, who has been knighted by Rishi Sunak. Pic: Reuters
Lord Haywood said: “I think people don’t like it, there’s no question about that.
“The problem is that you’ve got people who are genuine philanthropists who also give money to a political party, and that’s where the line isn’t differentiated.”
He added that he was “really surprised” by the timing of the list – but it probably doesn’t say anything about the timing of a general election.
Normally, honours are granted at New Year’s on the monarch’s birthday, or after the resignation of a prime minister, although this is a convention not a rule.
The timing of the announcement, while parliament is in recess, has also raised eyebrows – although sources suggested the timing was linked to the need to make appointments to the Privy Council, including the new Welsh First Minister Vaughan Gething.
Tory MP Philip Davies was one of the Conservative MPs to be made knight. He is known for hosting a television show on GB News with his wife, fellow Conservative MP and minister Esther McVey.
Ex-sports minister Tracey Crouch will become a dame having run a review into reforming the UK football system, and farming minister Mark Spencer will also become a sir.
Treasury Select Committee chair Harriett Baldwin – a Conservative MP – will also become a dame.
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Away from politics, Mr Nolan and wife and producer Emma Thomas have been handed honours following the release of award-winning biopic Oppenheimer.
Dr Demis Hassabis, who co-founded Google’s DeepMind AI business, was also made a knight.
Politics
Chancellor Rachel Reeves considering ‘changes’ to ISAs – and says there’s too much focus on ‘risk’ in investing
The chancellor has confirmed she is considering “changes” to ISAs – and said there has been too much focus on “risk” in members of the public investing.
In her second annual Mansion House speech to the financial sector, Rachel Reeves said she recognised “differing views” over the popular tax-free savings accounts, in which savers can currently put up to £20,000 a year.
She was reportedly considering reducing the threshold to as low as £4,000 a year, in a bid to encourage people to put money into stocks and shares instead and boost the economy.
However the chancellor has shelved any immediate planned changes after fierce backlash from building societies and consumer groups.
In her speech to key industry figures on Tuesday evening, Ms Reeves said: “I will continue to consider further changes to ISAs, engaging widely over the coming months and recognising that despite the differing views on the right approach, we are united in wanting better outcomes for both savers and for the UK economy.”
She added: “For too long, we have presented investment in too negative a light, quick to warn people of the risks, without giving proper weight to the benefits.”
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Rachel Reeves’s fiscal dilemma
Ms Reeves’s speech, the first major one since the welfare bill climbdown two weeks ago, appeared to encourage regulators to focus less on risks and more on the benefits of investing in things like the stock market and government bonds (loans issued by states to raise funds with an interest rate paid in return).
She welcomed action by the financial regulator to review risk warning rules and the campaign to promote retail investment, which the Financial Conduct Authority (FCA) is launching next year.
“Our tangled system of financial advice and guidance has meant that people cannot get the right support to make decisions for themselves”, Ms Reeves told the event in London.
Read more:
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Last year, Ms Reeves said post-financial crash regulation had “gone too far” and set a course for cutting red tape.
On Tuesday, she said she would announce a package of City changes, including a new competitive framework for a part of the insurance industry and a regulatory regime for asset management.
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Reeves is ‘totally’ up for the job
In response to Ms Reeves’s address, shadow chancellor Sir Mel Stride said: “Rachel Reeves should have used her speech this evening to rule out massive tax rises on businesses and working people. The fact that she didn’t should send a shiver down the spine of taxpayers across the country.”
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The governor of the Bank of England, Andrew Bailey, also spoke at the Mansion House event and said Donald Trump’s taxes on US imports would slow the economy and trade imbalances should be addressed.
“Increasing tariffs creates the risk of fragmenting the world economy, and thereby reducing activity”, he said.
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