RISHI Sunak’s failure to properly declare his wife’s shareholding in a childcare company breached the MPs code of conduct, according to Westminster’s standards watchdog.

An investigation launched in April concluded that the Prime Minister should have declared his wife Akshata Murty’s investment in Koru Kids as it was posed to benefit from new government policy.

The childminder grants scheme provides a £600 start-up grant for any childminder who registers with Ofsted and £1200 for those who register with childminder agency, such as Koru Kids.

Indeed, Koru Kids is one of six private childcare providers which are set to benefit from a pilot grant scheme.

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Despite this, Sunak claimed he had nothing to declare in relation to the scheme.

Daniel Greenberg, the parliament’s commissioner for standards, said that Sunak should have declared Murty’s shareholding when being questioned by a committee of crossbench MPs on March 28.

However, he added that he was satisfied the Prime Minister had failed to do so inadvertently.

“Having considered the information available to me,” he said.

“I have decided that the breach of the code appears to have been inadvertent. I confirm that the matter is now closed.”

Sunak was found to have attended a reception with bosses from Koru Kids just hours before he attended the committee meeting.

This is the third probe into Rishi Sunak’s behaviour, having previously been fined by police for breaching Covid-19 restrictions and not wearing a seatbelt.