Rayner takes £20k donation from oil lobbyist

Angela Rayner, the Housing Secretary, took a £20,000 donation from an oil lobbyist group, The Telegraph can reveal.

Despite previously criticising Conservatives for failing to “take on oil and gas giants”, Ms Rayner accepted the donation from Signum Global Advisors on July 8 this year to cover some of her staffing costs, according to the latest register of MPs’ financial interests.

Opponents have accused Ms Rayner of hypocrisy for taking money from a firm that works closely with oil executives, after years of attacking oil and gas companies.

Ms Rayner has voiced strong support for Labour’s net-zero drive, under which oil is regarded as a primary source of greenhouse gas emissions that must be rapidly phased out.

Earlier this year, Ms Rayner praised her “friend” Ed Miliband for his net-zero agenda and said Mr Miliband’s push for “clean energy” was what Britain needed in light of the war in Iran.

She has also consistently voted for increasing windfall tax on oil and gas companies and criticised former Conservative prime minister Liz Truss for failing to “take on oil and gas giants” and being “hell-bent on protecting their £170bn of excess profits”.

In March this year, Signum Global Advisors organised gatherings of dozens of oil company executives and hedge fund managers in Venezuela to discuss opportunities for oil exploration in the country.

“It’s a classic Angela Rayner case of ‘do as I say, not as I do’ just as it was when she dodged her housing taxes,” said Kevin Hollinrake, chairman of the Conservative Party.

“Ms Rayner was one of Mr Miliband’s cheerleaders as he repeatedly blocked North Sea drilling. Now, it seems her opposition isn’t strong enough to stop her from taking £20,000 from an oil lobbyist. Ms Rayner can’t have it both ways,” said Mr Hollinrake.

Joanna Marchong, head of campaigns at the think tank Onward, added: “This is yet another case of Labour hypocrisy from a minister who has made a career of it.

“Ms Rayner cheered on Mr Miliband’s net-zero crusade and repeatedly voted to raise windfall taxes on oil and gas companies. She lectured the industry from the moral high ground while British firms paid the price, and then, when out of office, she happily banked tens of thousands of pounds from a firm organising investment trips for oil executives.”

‘Principles are always negotiable’

Ms Rayner resigned from her post as Housing Secretary in September last year after The Telegraph disclosed she had avoided paying £40,000 in stamp duty on the purchase of her second home in Hove, East Sussex. She was reappointed in the role when Andy Burnham became Prime Minister, having paid the correct amount of stamp duty after seeking legal advice.

The Telegraph also revealed that during her “year off”, Ms Rayner received £182,376 from a combination of second jobs, including corporate speaking engagements and a book advance, as well as a £16,876 ministerial exit payment, despite having previously criticised MPs having second jobs as “beyond shameful”.

“Just as she demanded a ban on second jobs before cashing in on the speaking circuit, it seems Ms Rayner’s principles are always negotiable when there’s a cheque attached,” said Ms Marchong.

The register also showed that Ms Rayner earned £10,000 for a speaking engagement at Signum Global Advisors in March this year, but requested the fee be paid to a charity.

Signum Global Advisors – led by its chairman Charles Myers, a former investment banker – does not share a public roster of its clients, but boasts expertise in geopolitics, security and defence, infrastructure, elections and cryptocurrencies.

According to the register of members’ financial interests, Ms Rayner is the only sitting MP to have accepted a donation from the firm.

A spokesman for Ms Rayner said: “All donations have been declared in line with the rules.”

Signum Global Advisors was contacted for comment.