Former environment secretary, Theresa Villiers, has issued an apology for neglecting to disclose her ownership of shares valued at tens of thousands of pounds in oil company Shell while serving in her role. In addition to her stake in Shell, Villiers also declared similar holdings in Diageo, a drinks giant, and Experian, a finance firm. She admitted to holding shares in Shell since February 2018, a year before assuming the position of environment secretary. Villiers expressed remorse for her oversight, stating that she did not anticipate the value of the shares exceeding the £70,000 threshold that requires disclosure. On July 17 of this year, she updated her register of MPs’ interests to reflect the shares. According to a spokesperson, Villiers deeply regrets her failure to monitor her shareholdings and has sincerely apologized. She clarified that the shares are part of a professionally managed portfolio and that she has never made day-to-day investment decisions regarding them. It did not occur to her that any individual shareholding would surpass the declaration threshold, but an inheritance in 2018 resulted in this happening. Once she became aware of the situation, she promptly notified the Registrar of Members Interests and the Standards Commissioner. Villiers assumes full responsibility for her mistake and acknowledges that it should never have occurred. She is taking measures to prevent such oversights in the future. The spokesperson emphasized that Villiers’ actions and statements as an MP have never been influenced by her shareholdings. Angela Rayner, deputy leader of the Labour Party, has characterized this issue as a significant conflict of interests and accused the Government of prioritizing the interests of oil and gas corporations over those of the British public. Villiers has been serving as the MP for Chipping Barnet since 2005. She was appointed as environment secretary by Boris Johnson in July 2019 and was succeeded by George Eustice in February 2020.
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