Sunaks wifes company gets 35 BILLION IT contract for NHS

Some of the posts on here are getting rather silly.

There is a Ministerial code governing what Ministers must do about private shareholdings, especially where they are significant. The Sunaks may be the richest family to live at No 10, but many previous ministers had significant business interests. Michael Heseltine set-up, owned and ran The Haymarket Press, and he is not he only one.

The code cane be found at www.gov.uk/government/publications/ministerial-code/ministerial-code#ministers-private-interests Specifically in Section 7. I suggest some people on this thread wipe their fevered brows and read it, before making suggestions that we do not have rules like these in this country.

I don't have a brother

I'm totally confused with this thread?
Where is the 35 b come from?

The amount Hunt announced this week was 3.4 b for IT services in NHS.
Is this for the whole of the NHS throughout the UK?
There are 215 Trusts in England, x10 Ambulance Trusts plus the GP groups.
If this is for all the UK NI, Scotland and Wales if you devided that between these Trust to update the system this is peanuts.
As an NHS employee with tbh quite a good system within our Trust we need the next step up.

My Son works for a very big IT service provider, serious big money is spent on IT.

Someone needs to read the Bible, Matthew Chapter 7 Verse 5.

This thread is a diversionary tactic from other news, in my opinion.

HousePlantQueen

GrannyGravy13

Anyone owning 1% of any company whether it be public or privately owned will have little sway or influence on the running of it.

unless it is their Father who owns it, of course

He doesn’t own the company. Try reading what TinSoldier has posted about the company and its ownership, which seems to have fallen on deaf ears.

Germanshepherdsmum

I have been unable to find any confirmation that Infosys has been awarded the contract which PaddyAnn talks of. Is she going to return and provide clarification? She also alleges that Infosys ‘went under’ after receiving furlough money, which is not the case.

A gym company owned by Mrs Sunak was awarded furlough money, then went down owing a lot of money to HMRC. I will find details and post link as it is important to back up allegations. She may have been a minor shareholder, but it is not good 'optics'

www.dailymail.co.uk/news/article-10671441/London-gym-chain-owned-Rishi-Sunaks-millionaire-wife-goes-bust-owing-taxpayer-630-000.html

There are a lot of unsubstantiated allegation here on GN distorting facts as well, actually naming individuals is going too far.

The cost of living increase for instance is not Sunak’s fault or any other polititian, the sanctions on Russia was done in response to public demand and its cost us all a great deal every month
Food, Fuel, Building Materials and everything incorporating those commodities is expensive because WE want to support Ukraine. Most of us on GN support that policy so stop complaining about cost, it’s the price of our principles, our suffering compared to Ukraines is trivial.

Try reading the thread Jane.

GrannyGravy13

Anyone owning 1% of any company whether it be public or privately owned will have little sway or influence on the running of it.

unless it is their Father who owns it, of course

It’s really simple PaddyAnne please just tell us where this info came from.
I cannot find it anywhere.
Also it’s very unlikely one company would get the contract as it will be multi faceted and different companies would usually be expected to be involved.

Germanshepherdsmum

I have asked GN to consider taking the thread down as the title and OP contain false and libellous statements.

I think that’s a good idea. I hope they take it down too.

because of technology we have access to all this information about how those in power have so much wealth and control and still people make excuses for them. Why? I am genuinely interested why we cannot afford to house those that are homeless, we cannot afford for children with disabilities to have the correct support at school or college, we can't afford for women to access gynae operations including hysterectomies but we think it is ok for the prime ministers wife to receive lucrative contracts for her family business and benefit financially from it and that money is funded from the taxes we all pay? there is no conflict of interests at all, it's just all a massive coincidence?

Maizie what is the feeling and why does it feel like corruption.

The company is world wide and has subsidiaries and offices in many countries. it is a touching idea, Britain being the sea green incoruptible never doing businesswith countries and companies trading where we disapprove.

The problem is we are a major exporting country and need those exports to support the economy. We have already isolated Russia, now it is being suggested we boycot India. How about adding China to the list, and iran and the Gulf States. All countries whose politics and terrorism we deeply disapprove of. They only account for about 60 billions, about 20% of our exports. worth of our exports

MaizieD

It is her father's company.
It is still trading with Russia so why are we even dealing with it?
Sunak's wife's 'less than 1%' holding is worth at least £1billion and pays her dividends in the £millions.
This feels like corruption

There are a lot of companies still trading with Russia where strategic interests are at stake. India relies a lot on Russia for Oil and a lot of other imports, why are we dealing with India at all.
Because sanctions are optional, trade is obviously much less but exports to Russia are still close to £1bn a year, don’t forget the trade sanctions are costing us all a great deal, food prices are higher because of them, so are building materials and fuel.

I have asked GN to consider taking the thread down as the title and OP contain false and libellous statements.

Why isn't a UK company developing the technology? we've had a cock up with a Japanese company (Fujitsu) with the Post Office and that same company is also involved with HMRC's tech.

Seems as if they are maddy.

Unfortunately GMS that comment shows a high level of ignorance.
I doubt an apology will be forthcoming.

Sarnia

They just don't get it, do they. Noses in the trough yet again. How on earth can an IT contract cost £35b? How fortunate to get his wife's bid accepted before the General Election. I hope the Opposition parties make a lot of noise about this.

Perhaps an apology for this comment is also merited.

oh dear, more jealousy

In last week’s Budget, Hunt pledged £3.4 billion of funding to support digital transformation in the NHS.

Is this where this story is coming from? A rounding up, a lost decimal point and an unsubstantiated assumption that Infosys will get the business? Where does the notion that Infosys went under during the pandemic?

By market capitalisation, Infosys is the fourth largest IT service company in the world behind American *Accenture, Indian Tata Consultancy and American IBM. Japanese Fujitsu, architect of the Post Office Horizon scandal is 8th.

www.globaldata.com/companies/top-companies-by-sector/technology-media-and-telecom/global-it-services-companies-by-market-cap/

Infosys market capitalisation is only $80 billion and it’s latest turnover less than $19 billion. It does most of its business in the USA but has a major presence in India, of course, as well as China, Australia, Japan, Middle East and Europe

According to Infosys filings, the Murthy family reportedly owns 4.15% (Narayana Murthy holds 0.46 per cent stake, his wife Sudha 0.95 per cent, son Rohan 1.67 per cent and daughter Akshata 1.07 percent) in Infosys. (Source: India Times 5 Jun 2023). 4.51% of $80 billion is $3.3 billion, a small percentage maybe but a substantial financial stake returning high dividends.

Akshata Murthy’s share value now said to be 0.91% (Source: Guardian 4 February 2024)

www.theguardian.com/politics/2024/feb/04/sunak-fresh-infosys-scrutiny-minister-accused-vip-access

The biggest shareholders in Infosys are big Indian investment and pension companies operating in India e.g Life Insurance Corporation of India, SBI Mutual, ICICI Prudential, NPS (National Pension System) and many others.

We know that members of the government are pushing for Infosys to do more business in the UK - Dominic Johnson and Jacob Rees Mogg for obvious reasons through Somerset Capital’s investment in Infosys which is a clear conflict of interests as well as the Sunak Murthy family but I see no foundation whatsover in the press for this story.

Somerset Capital is said to be winding down after losing its major client but its value will affected by any lucrative contracts awarded to companies in its portfolio. Johnson is said to no longer be involved in the management of the fund but unclear what personal investment he may still have.

www.theguardian.com/business/2023/dec/07/somerset-capital-hedge-fund-co-founded-by-jacob-rees-mogg-to-close-after-losing-top-client

Infosys is one of 62 suppliers on a £562.5m contract for IT services published by the Financial Conduct Authority in October, according to the government’s Contracts Finder website.

The firm is also one of 25 suppliers on a £250m contract published by NHS Shared Business Services last month for “intelligent automation”.

democracyforsale.substack.com/p/sunak-family-firm-infosys-public-contracts

The entire NHS resource budget for 2023/24 is only £168.8 billion. £146 billion of that is for Integrated Care Boards and Direct Commissioning e.g. dental, pharmacy and optometry services, public health screening and immunisation, child services etc.

Worth mentioning that, in last week’s Budget, Hunt announced a new ISA for investments in British companies. In April 2024, Government-owned NS&I will offer a new three year bond to invest in British companies.

Considering that Alan Turing is widely considered to be the father of theoretical computer science and artificial intelligence, isn’t it rather sad that the UK doesn’t have a top tech company that the public can invest in?

*Accenture has its HQ in the Irish Republic but it is essentially as American company which grew out of the business and technology consulting division of American accounting firm Arthur Andersen.

I think you have the better system there nanna8.

The first fact check is that Infosys did not go under after getting COVID contracts. It is an IT company. It didn't have COVID contracts,

I can find no information on Info sys getting an NHS contract.

The only thing I could find mentioning the NHS, IT and £35 billion was a statement by

The UK's finance minister has promised the country's National Health Service (NHS) £3.4 billion ($4.33 billion) in IT investment, claiming it would unlock £35 billion ($44 billion) in efficiency savings by the end of the decade The statement was made three days ago.3 days ago

Also ^ Infosys – in which Murty reportedly has shares worth around £610 million – has been put on an “approved list” of suppliers in line for £750m of public sector contracts, according to The Mirror.^

The newspaper also reports that the Indian firm is named on a £250m NHS contract, as well as a £562.5m contract from the Financial Conduct Authority for IT services, according to the investigative Substack newsletter Democracy for Sale.

No mention of £35 billion anywhere except Gransnet.

That would be illegal here. You must have different rules. Prior interest and giving a contract to a family member is an absolute no no.

I have been unable to find any confirmation that Infosys has been awarded the contract which PaddyAnn talks of. Is she going to return and provide clarification? She also alleges that Infosys ‘went under’ after receiving furlough money, which is not the case.