On January 14, 2025, Tulip Siddiq, the British minister responsible for financial services and anticorruption, resigned following ongoing scrutiny regarding her financial ties to her aunt, Sheikh Hasina, the former prime minister of Bangladesh.
Siddiq, 42, had consistently denied any allegations of wrongdoing. However, Prime Minister Keir Starmer expressed his disappointment, stating he had previously held full confidence in her abilities. Siddiq's resignation marks the second departure from the government in two months, a setback for Starmer, whose approval ratings have declined since the Labour Party's recent election victory.
In her resignation letter, Siddiq reiterated her innocence but acknowledged that her continued presence in the Treasury could distract from governmental work. Starmer accepted her decision with regret, thanking her for her contributions and confirming that no evidence of financial misconduct had been found against her.
Siddiq was appointed to oversee financial services policy, including anti-money laundering measures, after the Labour Party's election win. Emma Reynolds has been appointed as her successor.
The investigation into Sheikh Hasina, who ruled Bangladesh from 2009 until her ousting, involves allegations of corruption and money laundering. Hasina and her party have denied any wrongdoing. Siddiq was implicated in a broader investigation concerning potential siphoning of funds from Bangladeshi infrastructure projects, with claims of financial irregularities linked to a significant nuclear power contract.
Additionally, Siddiq has faced scrutiny regarding properties in the UK associated with Hasina and her political allies. Documents indicate that Siddiq resided in a London property provided by a lawyer associated with Hasina's government and acquired another property in 2004 through questionable means.
Sheikh Hasina fled to India following her removal from power amidst widespread protests. Siddiq's resignation follows that of Louise Haigh, the former British transport minister, who stepped down late last year after acknowledging a minor criminal offense.