The former environment minister failed to declare more than £70,000 worth of Shell shares.

Teresa Villiers "takes full responsibility for the error", said her rep. Photo: JOFFE PUGH

Former Environment Minister has apologized for not declaring tens of thousands of pounds of shares in oil giant Shell while in office. similar holdings in beverage giant Diageo and finance firm Experian.

MP Chipping Barnet has held shares in Shell since February 2018, a year before she began serving as environment minister, she said.

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Ms Villiers apologized and said she did not expect the stock to rise above the £70,000 threshold. All MPs must declare assets above this value.

Ms Villiers updated her register of MPs' interests to include shares on July 17 this year.

A spokesperson told the Daily Mirror: «Ms Villiers deeply regrets not being able to control the value of the shares and offered her sincere apologies. These shares are part of a portfolio that Ms. Villiers professionally manages and for which she has never made day-to-day investment decisions.

“It didn’t occur to her that any individual block of shares would reach the threshold for declaration, but the inheritance received in 2018 led to the fact that this happened. As soon as she realized this, she alerted the Registrar of Members' Interests and the Standards Commissioner. She takes full responsibility for the mistake.

“She admits that it shouldn't have happened and that she should have kept track of her investment portfolio. She takes steps to make sure this never happens again.

«Nothing she ever said or did as an MP was influenced by these stakes.»

Angela Rayner, Deputy Leader of the Labor Party, called this the issue of a «serious conflict of interest». interests» and accused the government of being «more interested in protecting the profits of the oil and gas giants» than in supporting the British people.

Ms Villiers was elected MP for Chipping Barnet in 2005. Secretary Boris Johnson in July 2019 and replaced by George Eustis in February 2020.