Chris Philp’s Connection to Pluto Capital Management Draws Scrutiny Amid Housing Responsibilities

Chris Philp, the newly appointed Chief Secretary to the Treasury, continues to hold a significant stake in a property finance company, sparking concerns about potential conflicts of interest. It has been revealed that Philp, responsible for overseeing public spending on housing and planning, still retains a shareholding of over 15% in Pluto Capital Management, along with interests in several associated companies, including Pluto Partners, Pluto Silverstone Co Invest, Pluto Monza Co Invest, and Pluto Development Partners.

Pluto Finance, which provides lending to housebuilders and property developers, is ultimately owned by Pluto Partners, with part-ownership held by the Universities Superannuation Scheme. While Philp is not listed as a director in any of these companies, his ongoing financial involvement has raised questions about potential conflicts of interest.

A government spokesperson clarified that, in accordance with the Ministerial Code, Philp is currently in the process of declaring and managing his business interests following his recent appointment. The spokesperson confirmed that this process is being carried out in collaboration with the Permanent Secretary to ensure transparency and compliance with the rules.