David Cameron has been condemned for his failure to declare a family stake in a company planning a massive housing development.
The plan to build hundreds of homes on greenfield land in Lincolnshire is in an early stage but if it goes ahead is likely to push up land prices and benefit shareholders.
The Prime Minister’s wife, Samantha, holds shares in the firm involved in the development but Mr Cameron did not declare it in the ministerial list of interests, it was reported, despite his wife’s patronage of three charities and role as ambassador with the British Fashion Council being listed.
Paul Flynn, the Labour MP for Newport West and a member of the public administration select committee, told the Daily Telegraph that the shareholding should have been included in the ministerial list of interests and described the omission as “seriously naughty”.
The business behind the proposed development in Conesby farm is Firecrest Land which is half owned by Larkfleet which said this week that government plans to alter planning laws could be “beneficial” for the project.
The other half of Firecrest is, the Telegraph said, owned by Normanby Estate Holdings which is run by Sir Reginald Sheffield, the Prime Minister’s father-in-law.
A Cabinet Office spokesman said: “The Cabinet Secretary is satisfied that all procedures were followed correctly and that there is no conflict of interest.”