MPs to be prevented from taking paid employment, holding directorships, undertaking paid consultancy or holding shares in individual companies. Unpaid charity work will be unaffected. MPs would be required to liquidate all shares (except diverse multi-sector funds) within 6 months of being elected.
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Many MPs have paid interests that could be perceived to influence their judgement.
There have been several recent allegations of corruption against MPs and ministers, this damages confidence in the Government.
In addition MPs may spend time on alternative employment which could take them away from or distract them from constituency or government business they are employed to undertake.