The parliamentary body which looks into standards of MPs is investigating Midsomer Norton MP Jacob Rees Mogg.

The committee for standards has begun a formal investigation into the MP following reports that he failed to declare that he received £6m in cheap loans from one of his companies. The money was used to buy and renovate his London property.

The MP's team said that Jacob is complying with the investigation in full.

He put out this statement :

"Saliston is 100% owned by me and this is declared clearly in the Commons register and to the Cabinet Office. It has no activities that interact with government policy.

"The loans from 2018 were primarily taken out for the purchase and refurbishment of 7 Cowley Street as temporary cash flow measures. All loans have either been repaid with interest in accordance with HMRC rules or paid as dividends and taxed accordingly.

"The register asks for earnings, not loans, which is why I was declared an as a non-remunerated director until I resigned on entering government. Loans are not earnings and are not declarable in the register of interests."

The inquiry concerns the section on rules for MPs connected to the declaration of employment and earnings.

The Commissioner looks at evidence that individual MPs may have broken the Rules of Conduct. She will find out the facts and make a decision. The fact that an inquiry is taking place does not mean that the rules have been broken.

Details of current investigations are published HERE : the standards site