Tulip Siddiq Resigns as Treasury Minister Over Alleged Bangladesh Financial Ties

January 14, 2025
Tulip Siddiq Resigns as Treasury Minister Over Alleged Bangladesh Financial Ties

Tulip Siddiq has stepped down from her role as a Treasury minister amid ongoing scrutiny over her financial connections to the former Bangladeshi government led by her aunt.

If Tulip had stepped down at the start of the controversy, she might not have been in this embarrassing situation and could have at least somewhat saved herself from becoming the target of the so-called media trial. Tulip could have extinguished the fire of controversy by stepping down last month.

Siddiq, who held the position of City and anti-corruption minister, was not found to have breached any rules by Laurie Magnus, the adviser on ministerial standards. Nevertheless, Magnus advised Keir Starmer that Siddiq could have been more mindful of the reputational risks tied to her family’s connections to Bangladesh. He suggested the prime minister might want to review her suitability for her current duties.

In her resignation on Tuesday, Siddiq stated that she had fully disclosed all her financial interests and relationships but acknowledged that the issue had become a distraction for the government. 

Earlier in the month, she had referred herself to Starmer’s adviser on ministerial standards after it was revealed that she had resided in multiple properties linked to individuals connected to her aunt, Sheikh Hasina, the ousted leader of Bangladesh. Hasina stepped down last year following a popular uprising.

Siddiq faced scrutiny over her use of various properties, including a two-bedroom flat near King’s Cross in central London and a separate residence in Hampstead.


Tulip, a councillor for Camden, London, was first elected as an MP in 2015 in a fiercely contested election from the Hampstead Kilburn seat in London. She is a four-time MP.

Tulip was unable to find her mother, Sheikh Rehana, beside her as a companion, by her side at the critical moment of her resignation. Sheikh Rehana is in India with her aunt Sheikh Hasina. Sheikh Rehana is unable to leave her sister Sheikh Hasina alone in India.