JACOB Rees-Mogg last night became the first Cabinet Minister to be dragged into the second jobs row as a probe into his £6million loan was launched.
The wealthy Commons Leader is officially under investigation for allegedly not declaring cash received from his investment firm.
He insists the payments from Saliston Limited were all above board and says he properly disclosed that he owns the company.
The Tory bigwig said the 2018 loans were “temporary cash flow measures” to help fund a refurb of his Westminster apartment.
He said his business “has no activities that interact with government policy” and quit as an unpaid director when he joined the government in 2019.
But sleaze-buster Kathryn Stone opened the probe after Labour accused him of an “egregious breach of the rules”.
The Standards Commissioner has also announced an investigation into Scottish Tory leader Douglas Ross for not disclosing thousands in outside earnings.
The Moray MP – who’s also a professional football referee – referred himself to the watchdog after failing to declare £28,000 for his sports work.
Mr Ross said: “Since realising my mistake last week, I contacted the Office of the Register of Interests and made them aware of the situation.
“All payments have now been declared, including those from my MSP salary that are donated to charities.”
Mr Rees-Mogg said: “Saliston is 100 per cent owned by me and this is declared clearly in the Commons register and to the Cabinet Office. It has no activities that interact with government policy.
“All loans have either been repaid with interest in accordance with HMRC rules or paid as dividends and taxed accordingly.
“The register asks for earnings, not loans, which is why I was declared as a non-remunerated director until I resigned on entering Government.
“Loans are not earnings and are not declarable in the register of interests.”
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