Pressure is mounting on David Cameron to come clean about his financial dealings with China.

Rishi Sunak dragged the failed ex-Prime Minister out of retirement this week, making him Foreign Secretary in a move that shocked Westminster.

But it’s prompted questions over whether newly minted Tory peer’s closeness with China will allow him to properly represent the UK’s interests in dealings with the regime.

Now campaigners have written to Sir Laurie Magnus, the PM’s sleaze advisor, urging full disclosure of Lord Cameron’s income and links to foreign powers in the public interest.

Among his roles during his time out of office was as vice-chairman of a planned £1billion China-UK investment fund, which never got off the ground.

It was reported this week that Lord Cameron had unsuccessfully sought hundreds of millions of dollars for the fund from the China Investment Corporation, an arm of the state.

And Parliament’s intelligence and security committee has questioned whether his role on the fund was “in some way engineered by the Chinese state.”

The Times today reported Lord Cameron had taken part in an event where Chinese entrepreneurs and officials could pay nearly £8,000 for a “three-hour close-up exchange” with him.

And Lord Cameron’s office have confirmed that his speaking engagements had “included a limited number of events in China or for Chinese audiences.”

During his time as Prime Minister, Lord Cameron was seen as chummy with Chinese President Xi, touting a “golden era” of relations with Britain.

Upon taking office on Monday, Lord Cameron said he was resigning from “all of the business I’ve been helping and all the other things I’ve been doing.”

But he did not specify what they were.

And Downing Street this week indicated he would not be required to publicly declare any income or benefits he enjoyed before Monday of last week.

Liberal Democrat Cabinet Office spokesperson, Christine Jardine MP said: "Rishi Sunak's pledge to the British people that his government would act with integrity looks a bit empty now.

"The public deserves to be told if the scandal tainted David Cameron has any other skeletons in his closet whilst he represents UK on the world stage.

"The Prime Minister has taken Boris Johnson's approach to conducting government. Ducking tough questions and dodging scrutiny every chance he gets."

In a letter to Sir Laurie, the Prime Minister’s Advisor on the Ministerial Code, Unlock Democracy director Tom Brake wrote: “I would argue very strongly that the disclosure of Baron Cameron’s business interests are indisputably in Parliament’s and the public’s interest.

“I look forward to your response, setting out the action you intend to take, but I hope it will include the full, immediate and public disclosure of all of Baron Cameron’s business interests.”

New MPs are required to disclose any payments, employment or gifts that could be seen to influence how they would do their job for the 12 months leading up to their election.

But the same rule doesn’t apply to peers, who only need to declare currently held interests.

Separately, ministers have to register any current interests with the Cabinet Office - and Sir Laurie decides which, if any, should be published in the public interest.

But the list of ministers’ interests is only updated twice a year, and a new list isn’t due until January.

Mr Brake called on Sir Laurie to bring forward the publication - and encourage Lord Cameron to publish full details himself.

He wrote: “This would be in keeping with [Rishi Sunak’s] commitment to ‘Integrity, professionalism and accountability’.”

The letter in full

Sir Laurie Magnus

Ethics Adviser to the Prime Minister

10 Downing Street

17/11/2023

Dear Sir Laurie,

I am writing on the subject of Baron Cameron of Chipping Norton.

When the Prime Minister, the Rt Hon Rishi Sunak MP, re-issued the Ministerial Code in December 2022 he said in the foreword that he was committed to ‘ensuring integrity, professionalism and accountability at every level’. He added that he wanted to ‘earn the trust of the British people.’

The appointment of David Cameron as a peer, so he can serve as Foreign Secretary, gives the PM the opportunity to deliver on this commitment.

David Cameron is known to have or had extensive business relations, not only in the UK, but also in China and possibly other countries. His relationship with Chinese business interests, and some have argued his lobbying for those interests, are of particular concern as the Government has recently stated a desire to improve relations with China.

Total transparency over these interests will make it much clearer that section 1.3 f of the Ministerial Code, which refers to conflicts of interest between public duties and private interests, is met.

Given the significance of his position as Foreign Secretary, I urge you to bring forward the publication of the list of Ministers’ Interests due in January 2024. From a public interest perspective, I would expect all of his foreign business interests to be ‘relevant’ and therefore published. Will you bring forward its publication and expect all David Cameron’s business interests - particularly foreign business interests - to be published?

Pending its publication, it would be appropriate for Baron Cameron to proactively publish full details himself. Will you be recommending this?

This would be in keeping with the PM’s commitment to ‘Integrity, professionalism and accountability’. ‘Accountability’ would dictate that the PM ensures the same level of financial disclosure for peers as applies to newly elected MPs. New MPs must register all their current financial interests, and any registrable benefits (other than earnings) received in the 12 months before their election. Whereas Members of the House of Lords are required to submit to the Registrar of Lords’ Interests current interests within one month of taking their seat. I have however had confirmation from the Lords Registrar that former interests may exceptionally be declarable if, for example, they are comparatively recently held and might be thought to continue to influence the member in respect of the particular matter under discussion’. This provides the PM with the necessary justification for requiring Baron Cameron’s to make public his previous financial interests.

As stated in the House of Lords Official Report of 20th March 1997, column 1057, on the subject of accountability, ‘Ministers should be as open as possible with Parliament, refusing to provide information only when disclosure would not be in the public interest’.

I would argue very strongly that the disclosure of Baron Cameron’s business interests are indisputably in Parliament’s and the public’s interest.

I look forward to your response, setting out the action you intend to take, but I hope it will include the full, immediate and public disclosure of all of Baron Cameron’s business interests.

Yours sincerely

Tom Brake - Director of Unlock Democracy