Mr Kwarteng was sacked by former prime minister Liz Truss last year after his mini-budget caused major financial turmoil in the UK.
British politicians are allowed to take outside roles while in office, and he remains a sitting MP and former business and energy secretary.that Dr Forrest, who has faced criticism over high executive turnover within Fortescue, had asked Mr Kwarteng to work for him in an advisory capacity to his green energy arm.
Companies generally employ former politicians and political operators for their expertise on navigating regulation and influencing government policy. Mr Kwarteng has been told, however, he cannot lobby the government for two years since leaving ministerial office given “real and perceived risks” he could use his network to give Fortescue an unfair advantage.
Mr Kwarteng drove the development of the UK’s first hydrogen strategy while energy secretary, but his former department said he did not favour Fortescue in his decisions. “There is no indication that decisions taken in [Mr Kwarteng’s] time as [secretary] favoured FFI over other hydrogen companies,” the Department for Energy Security and Net Zero said.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Andrew Forrest offers work to former UK chancellor Kwasi KwartengMr Kwarteng helped spark a UK financial crisis and was sacked after five weeks - the revelation comes after Dr Forrest faced questions from analysts over high executive turnover.
Read more »
Gabon military coup sparks concern at FortescueThe mining giant has raced to ensure the safety of staff at its fledgling iron ore mine, but won’t be drawn on any potential longer-term implications.
Read more »
New iPhone looming as Apple announces new eventApple announced the date for their next product showcase event, to be held at their corporate headquarters where it&x27;s expected the next iPhone will be announced.
Read more »
Disagreement on green agenda behind shock CEO exit: ForrestAndrew Forrest says given the scale of its green ambitions, Fortescue will inevitably lose senior executives but needs to “fail fast” and move on.
Read more »
Disagreement on green agenda behind shock CEO exit: ForrestAndrew Forrest says given the scale of its green ambitions, Fortescue will inevitably lose senior executives but needs to “fail fast” and move on.
Read more »
Disagreement on green agenda behind shock CEO exit: ForrestAndrew Forrest says given the scale of its green ambitions, Fortescue will inevitably lose senior executives but needs to “fail fast” and move on.
Read more »