Jowell denies Old Monk profit claims

Culture Secretary Tessa Jowell has denied claims that her husband made a £67,000 profit from buying shares in the Old Monk Company pub chain while she was public health minister.

Her husband David Mills insisted the shares were held in a trust in his name but he was not the beneficiary.

The Observer claimed Mills used a corporation based in the British Virgin Islands to buy 91,000 shares - worth £80,000 - in the Old Monk Company.

The pub company was run by Gerry Martin - brother of JDW founder Tim Martin.

At the time her husband

allegedly bought the shares in 1998, Jowell was involved in Government discussions to review licensing law.

In the same year Jowell backed away from a smoke ban in pubs in favour of the leisure industry being self-regulatory. This was great news for the industry and in 1999 Mills sold the shares for £147,000 - making an 80% profit of £67,000 in 18 months.

Less than two years later, Jowell became responsible for licensing reform. Opposition MP's claim her husband's shareholdings should have been declared in the Register of Members' Interests but there is no evidence to suggest Jowell knew about or was influenced by her husband's dealings in the pub industry.

Jowell wrote to Nigel Evans - the Tory MP who has been pursuing her over her entry in the MPs' register. In the letter she said: "With regard to your question, I had never heard of this company or the transactions until this weekend.

"I understand the shares were never owned by my husband."

l MA opinion - Tessa should go - p16