Former chancellor Philip Hammond has amassed significant wealth through various directorships and consultancy opportunities while serving in the House of Lords. His partnerships with Middle Eastern regimes known for human rights violations and roles in diverse commercial enterprises highlight potential conflicts of interest. Since becoming a peer in 2020, he established Matrix Partners, earning substantial profits. Democracy advocates raise concerns about peers benefiting from their political status, as current rules permit Lords to engage in consultancy, unlike tightening regulations imposed on MPs after recent scandals.
I have a diverse portfolio of outside interests, none of which is related to my membership of the House of Lords.
The House of Commons rules were tightened last year after a series of scandals, and MPs are banned from taking on any form of consultancy that involves providing political advice.
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