New Fortescue hire Kwasi Kwarteng barred from advising on UK affairs

afr.com:

Kwasi Kwarteng, the United Kingdom’s former chancellor, has been barred from advising his potential new employer, mining magnate Andrew Forrest, about UK energy affairs and lobbying the British government.

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.

Kwasi Kwarteng resigned as chancellor in October. Bloomberg

The Australian Financial Review reported this week 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.

The next day, the UK’s Advisory Committee on Business Appointments, released their response to Mr Kwarteng’s application to take up the two-day-a-week role at Dr Forrest’s Fortescue Future Industries. MPs have to advise the committee of outside work before taking up roles.

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.

“Given the company’s work in the UK will overlap directly with your access to information and responsibilities for green energy and the hydrogen energy market in the UK, the Committee has recommended you are prevented from working in any aspect of the UK energy sector,” the committee said in a report released this week.

The committee said the Mr