A Conservative peer’s conflict of interest raises questions about transparency and accountability in the House of Lords.
A recent revelation has raised questions about the conduct of Lord Ian Duncan, a Conservative peer and deputy speaker in the House of Lords. ‘The peer is facing allegations that he broke House of Lords rules by facilitating a meeting between a Canadian company, Terrestrial Energy, and a minister who was advising on government funding for the company.’
Lord Ian Duncan is a British politician and member of the House of Lords.
He was born on May 16, 1957, in Glasgow, Scotland.
A former leader of the Scottish Liberal Democrats, he served as a Member of Parliament (MP) for Moray from 2001 to 2015.
In 2016, he was appointed as a life peer and took his seat in the House of Lords.
Lord Duncan has held various roles, including Minister of State for Scotland and Northern Ireland Secretary.
Background
Terrestrial Energy, a nuclear technology company founded in 2013, has been developing a new type of nuclear reactor. The company’s chief executive, Simon Irish, had previously written to the nuclear minister at the time, Andrew Bowie, requesting a meeting to ‘introduce himself and Terrestrial Energy.’ Lord Duncan, who was on an advisory board for the company since 2020, forwarded Irish‘s letter to Bowie, facilitating the introduction.
Rules and Consequences
Peers are banned under House of Lords rules from seeking to profit from membership or helping others to lobby members of either house, ministers, or officials by whatever means. The meeting with Andrew Bowie enabled Terrestrial Energy to lobby for easier access to UK government funding, raising questions about whether Lord Duncan‘s actions broke the rules.
Investigation and Response
Dr. Jonathan Rose, a political integrity expert, has expressed concerns that Lord Duncan‘s conduct appears ‘extremely problematic.’ In response to questions from the Guardian, Lord Duncan stated that he did not believe he had broken Lords rules, arguing that the meeting was part of an ongoing dialogue between Terrestrial Energy and the government.
Financial Interests
As an adviser to Terrestrial Energy, Lord Duncan received share options at the outset of his appointment. These give him the right to buy shares in the company at a preferential rate if they become profitable. The company’s valuation has risen significantly since its listing on a US stock market last month, potentially allowing Lord Duncan to make a substantial profit.
Conclusion
The revelation about Lord Ian Duncan‘s involvement with Terrestrial Energy and his facilitation of a meeting with Andrew Bowie raises concerns about the conduct of a Conservative peer in the House of Lords. The incident highlights the need for greater transparency and accountability among peers, particularly when it comes to potential conflicts of interest.
