Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

Zahawi: Millionaire former chancellor in hot water over tax affairs

Zahawi: Millionaire former chancellor in hot water over tax affairs

From child refugee to entrepreneur and Cabinet minister, Mr Zahawi has a compelling backstory
Nadhim Zahawi, the Tory chairman in hot water over his tax affairs, is a multi-millionaire former businessman who had a meteoric rise to political power.

He has a compelling backstory, having made it as an entrepreneur after coming to the UK as a child refugee unable to speak English.

Born in Iraq to a Kurdish family, Mr Zahawi arrived in England as a nine-year-old when his parents fled the regime of Saddam Hussein.


He grew up in Sussex and studied chemical engineering at University College London.

In 2000, Mr Zahawi co-founded the YouGov polling company, staying involved in the running of the successful firm for a decade and becoming very wealthy in the process.

But his financial affairs have been in the spotlight amid claims he avoided tax, using an offshore company registered in Gibraltar to hold shares in YouGov, allegations he denies.

He recently admitted that he paid what HM Revenue & Customs said “was due” after the tax authority “disagreed about the exact allocation” of founder shares in the firm held by his father.

Mr Zahawi is believed to be one of the richest politicians in the House of Commons.

He first entered Parliament in 2010 as the Tory MP for Stratford-upon-Avon, Warwickshire.

He spent nearly eight years on the backbenches, gaining media attention in 2013 for claiming expenses for heating stables for his horses.

Getting his first junior minister role in the Department for Education under Theresa May in 2018, he soon rose up the ranks to become Education Secretary.

But it was when he was promoted to help lead the Government’s Covid-19 vaccine roll-out in 2020 that he rose to prominence.

Mr Zahawi was appointed chancellor by Boris Johnson last summer, hours after Rishi Sunak’s dramatic resignation, and the day before the scandal-plagued then-prime minister was forced to quit.

Questions are swirling as to whether Mr Zahawi negotiated the dispute with HMRC during his two-month stint in the job, when he was in charge of the country’s taxation.

He made a doomed attempt to replace Mr Johnson in the Tory leadership race.

When Liz Truss emerged victorious, she appointed Mr Zahawi Chancellor of the Duchy of Lancaster.

After her premiership imploded, Mr Zahawi initially announced he would be backing Mr Johnson to return as PM, before switching allegiance to Mr Sunak on the same day, after the former leader said he would not be entering the contest.

Mr Sunak is now facing questions over how much he knew about Mr Zahawi’s tax affairs when he brought him into his Cabinet, as minister without portfolio in the Cabinet Office and Conservative party chairman.
AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
The CEO Who Replaced 80% of Employees for the AI Revolution: "I Would Do It Again"
Character.ai Bets on Future of AI Companionship
China Ramps Up Tax Crackdown on Overseas Investments
Japanese Office Furniture Maker Expands into Bomb Shelter Market
Intel Shares Surge on Possible U.S. Government Investment
Hurricane Erin Threatens U.S. East Coast with Dangerous Surf
EU Blocks Trade Statement Over Digital Rule Dispute
EU Sends Record Aid as Spain Battles Wildfires
Beijing is moving into gold and other assets, diversifying away from the dollar
China Requires Data Centres to Source Majority of AI Chips Locally, For Technological Sovereignty
Escalating Clashes in Serbia as Anti-Government Protests Spread Nationwide
Category 5 Hurricane in the Caribbean: 'Catastrophic Storm' with Winds of 255 km/h
Trump Backs Putin’s Land-for-Peace Proposal Amid Kyiv’s Rejection
Digital Humans Move Beyond Sci-Fi: From Virtual DJs to AI Customer Agents
YouTube will start using AI to guess your age. If it’s wrong, you’ll have to prove it
Jellyfish Swarm Triggers Shutdown at Gravelines Nuclear Power Station in Northern France
OpenAI’s ‘PhD-Level’ ChatGPT 5 Stumbles, Struggles to Even Label a Map
Zelenskyy to Visit Washington after Trump–Putin Summit Yields No Agreement
High-Stakes Trump-Putin Summit on Ukraine Underway in Alaska
The World Economic Forum has cleared Klaus Schwab of “material wrongdoing” after a law firm conducted a review into potential misconduct of the institution’s founder
A Computer That Listens, Sees, and Acts: What to Expect from Windows 12
Bitcoin hits $123,000
Southwest Airlines Apologizes After 'Accidentally Forgetting' Two Blind Passengers at New Orleans Airport and Faces Criticism Over Poor Service for Passengers with Disabilities
United States Sells Luxury Yacht Amadea, Valued at Approximately $325 Million, in First Sale of a Seized Russian Yacht Since the Invasion of Ukraine
Russian Forces Advance on Donetsk Front, Cutting Key Supply Routes Near Pokrovsk
It’s Not the Algorithm: New Study Claims Social Networks Are Fundamentally Broken
Sixty-Year-Old Claims: “My Biological Age Is Twenty-One.” Want the Same? Remember the Name Spermidine
Saudi Arabia accelerates renewables to curb domestic oil use
The Billion-Dollar Inheritance and the Death on the Railway Tracks: The Scandal Shaking Europe
World’s Cleanest Countries 2025 Ranked by Air, Water, Waste, and Hygiene Standards
Denmark Revives EU ‘Chat Control’ Proposal for Encrypted Message Scanning
Perplexity makes unsolicited $34.5 billion all-cash offer for Google’s Chrome browser
Cristiano Ronaldo and Georgina Rodríguez announce engagement
Taylor Swift announces 12th studio album on Travis Kelce’s podcast after high-profile year together
Asia-Pacific dominates world’s busiest flight routes, with South Korea’s Jeju–Seoul corridor leading global rankings
Sam Altman challenges Elon Musk with plans for Neuralink rival
Trump and Putin Meeting: Focus on Listening and Communication
Instagram Released a New Feature – and Sent Users Into a Panic
China Accuses: Nvidia Chips Are U.S. Espionage Tools
Mercedes’ CEO Is Killing Germany’s Auto Legacy
US Postal Service Targets Unregulated Vape Distributors in Crackdown
RFK Jr. Announces HHS Investigation into Big Pharma Incentives to Doctors
Australia to Recognize the State of Palestine at UN Assembly
The Collapse of the Programmer Dream: AI Experts Now the Real High-Earners
Security flaws in a carmaker’s web portal let one hacker remotely unlock cars from anywhere
Denmark Pushes for Child Sexual Abuse Scanning Bill in EU, Could Be Adopted by October 2025
Street justice isn’t pretty but how else do you deal with this kind of insanity? Sometimes someone needs to standup and say something
Armenia and Azerbaijan sign U.S.-brokered accord at White House outlining transit link via southern Armenia
Barcelona Resolves Captaincy Issue with Marc-André ter Stegen
US Justice Department Seeks Release of Epstein and Maxwell Grand Jury Exhibits Amid Legal and Victim Challenges
×