Conflicts Of Interest

Abstract It was noted in an earlier chapter that some private financial interests possessed by Ministers (or potential Ministers) can disqualify them from ministerial office. This Chapter investigates much more fully the rules which seek to prevent Ministers being faced with conflicts of financial or other interests. There has been much public disquiet over the past decade or so that standards of conduct in public life have fallen sharply, and that some members of the Government, some MPs, and some others in public service have allowed a climate of sleaze to develop. In so far as those worries have been about ministerial misconduct of a sexual or political nature, they will be looked at in a later chapter. 2 This Chapter is concerned with financial interests a d the ways in which Ministers are enjoined to keep separate their private financial affairs and their public duties. The Chapter will begin with a brief look at the attempts which have been made over the years to maintain the propriety of Ministers’ financial conduct. It will then consider the general principles which Ministers are required to follow to that end, and will go on to examine in detail the main areas of potential conflict of financial interests which may face them, It would be unfair to expect a new Minister on joining the Government to sell all his investments so that his decisions in office would be taken without thoughts of personal gain; but Ministers cannot avoid making decisions which affect industry, commerce, and occasionally the financial markets, which in tum will affect their personal finances.