ALISTER Jack benefitted from a £2 million Covid loan backed by the UK Government during the pandemic.
The Scottish Secretary owns a stake in One Rebel, a chain of gyms based in London, which drew on the Coronavirus Business Interruption Loan Scheme as one of a number of measures to keep the business afloat during lockdown, the Sunday Mail revealed.
The most recent filings from the company, filed for the end of 2020, showed the firm had moved to online classes and temporarily cut staff pay to stay in business after it was forced to close by the Government’s pandemic response.
Jack’s share in the company, listed as a financial interest in his register of interest, is valued as being worth at least £70,000 – the precise value is not listed and could be higher.
The firm has not yet filed up-to-date accounts for last year – a criminal offence if they have been filed late.
The most recent filing from the company was made in paper format which means it is possible their accounts have been sent to Companies House but have not yet been reviewed by the Government register.
One Rebel’s filings for 2020 showed the firm’s turnover was nearly halved by the pandemic and that attendance figures fell from 8.2m to 4.7m in the period – posting a financial loss of £2.7m.
A spokesperson for the minister said: "Alister Jack's shareholding in the company is fully and properly declared in his register of member's interests.
"Mr Jack has no involvement in the day-to-day running of the company. He is merely one of many shareholders."
But opposition parties have fumed at the revelation.
An SNP spokesperson said: “Every day more evidence emerges showing just how broken and corrupt Westminster is and how important it is for Scotland to chart its own path.”
Labour MSP Neil Bibby told the paper: “The sooner we have a general election and kick out this hopeless Tory government, the better.
“Juggling his many business interests while running a government department is clearly beyond him.”
