The list of MPs and Members of the House of Lords that have links to firms accredited by the British Business Bank to offer Government Guaranteed Loans gets bigger each time another one is accredited. Today I bring news of Investec the latest Lender to get the greenlight from the BBB to offer Recovery Loans and links to Andrew Mitchell MP.
He has held many roles in Government including:
Chief Whip (4 Sep 2012 to 19 Oct 2012)
The Secretary of State for International Development (12 May 2010 to 6 Sep 2012)
Shadow Secretary of State (Home Office) (20 May 2005 to 6 May 2010)
Shadow Minister (Home Affairs) (10 Sep 2004 to 20 May 2005)
Member, Draft Charities Bill (Joint Committee) (29 Apr 2004 to 15 Sep 2004)
Shadow Minister (Treasury) (10 Nov 2003 to 10 Sep 2004)
Member, Modernisation of the House of Commons Committee (4 Dec 2002 to 22 Jan 2004)
Member, Work and Pensions Committee (16 Jul 2001 to 6 May 2003)
Parliamentary Under-Secretary (Department of Social Security) (6 Jul 1995 to 1 May 1997)
Government Whip (20 Jul 1994 to 6 Jul 1995)
Member, Members’ Interests Committee (20 Jun 1994 to 17 Jul 1995)
Vice-Chair, Conservative Party (1 Jul 1992 to 1 Jul 1993)
Assistant Whip (HM Treasury) (11 Jan 1992 to 20 Jul 1994)
A look at the Latest Update of the Register of Members Interest reveals:
Mitchell, Mr Andrew (Sutton Coldfield)
Employment and earnings:
Until further notice, senior adviser to Investec, 2 Gresham Street, London EC2V 7QP. Remuneration of £12,000 plus VAT a year, with an expected time commitment of approximately two days a year, from 1 July 2018. (Registered 07 October 2013; updated 07 December 2015 and 24 July 2018)
You can check it out yourself here:
https://publications.parliament.uk/pa/cm/cmregmem/210517/210517.pdf
Much like all other Recovery Loan Lenders you may find they try and flog you one of their own loans first without the safety net of the Government Guarantee, you will see this displayed on their website:
“A key aim of the Recovery Loan Scheme is to improve the terms on offer to businesses, but if we can offer a business the choice of a commercial loan on better terms, without requiring the guarantee provided by the RLS, we should do so.”
Mps and Members of the House of Lords are doing well financially out of those loan schemes.