Nadhim Zahawi appointed as Chairman of Very Group after tax row
- Nadhim Zahawi is named as the new chairman of Very Group, an online retailer.
- Zahawi confirms he paid £5m in a tax row and apologizes for the controversy.
- This marks his departure from Parliament and adds to the Tory exodus.
Sky News has learned that Mr. Zahawi will be the new chair of Very Group, which is a big part of the Barclay family's business. The Barclay family owns The Daily Telegraph but can't control it right now because of a government order. Mr. Zahawi joining Very Group might lead to them looking for new investors soon and checking how they manage their money. Very Group has been doing well even though people are unsure about who owns it. They recently got £125m in new money to help them grow. Mr. Zahawi has been a Member of Parliament since 2010 and has worked in different government jobs. He was in charge of giving out vaccines during the COVID pandemic. He had some trouble with taxes when he didn't tell the government about an investigation. He said it was a mistake and paid what he owed. Some companies wanted him to lead them, but the government changed the rules to stop that from happening. Yodel Group, a delivery company owned by the Barclays, almost went out of business but got saved by another company. The Barclays borrowed a lot of money, and some of it was tied to their media business and Very Group. Mr. Zahawi had to talk to the tax office about his taxes, and they agreed on what he owed. He didn't tell the government about this when he got new jobs, which caused some problems. He decided not to run for office again after being in politics for 14 years. The Conservative Party is not doing well in the polls, and some people blame the disagreements within the party for their troubles.