The Treasury minister has ties to a real estate finance company

Chris Philp, the chief secretary of the Treasury, still owns a stake in a property finance group, it has emerged.

The Guardian newspaper reported on Tuesday that the Treasury minister’s business interests could raise questions, with Mr Philp responsible for public spending on housing and planning.

Mr. Philp, according to the Register of Interests of Members, has a stake of more than 15% in Pluto Capital Management, as well as Pluto Partners, Pluto Silverstone Co Invest, Pluto Monza Co Invest and Pluto Development Partners.

Pluto Finance, which The Guardian says is ultimately owned by Pluto Partners, offers loans to homebuilders and property developers.

It also partly belongs to the Universities Superannuation Scheme.

The Minister would not be a director of any of the companies and his interest in them has already been declared.

A government spokesman said: “The ministerial code sets out the process by which ministers, after their appointment to a new role, must declare and manage their interests, in conjunction with their permanent secretary.

“The Chief Secretary to the Treasury is currently following this process in accordance with the ministerial code, following his appointment last week.”

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