Tim Yeo, the Tory health and education spokesman, must have cursed Oliver Letwin for giving up his pound;100,000 directorship at investment bank NM Rothschild after his appointment as shadow chancellor.
The decision, taken to avoid potential conflict of interest, has brought calls for Yeo to resign his own chairmanship of Univent Plc , which provides nursing homes for the elderly and is therefore operating on the outskirts of his new portfolio. But Yeo is not budging. In fact he has not only kept hold of his lucrative position but, on November 26, tabled a motion calling for a reduction of the “over-prescriptive, expensive and bureaucratic regulation” of the care home sector”.
