Rishi Sunak's wife's firm Infosys received 50% boost in public sector invoices in 2023

12 February 2024, 11:49 | Updated: 12 February 2024, 12:56

By Henry Riley

@HenryRiley1

LBC has exclusively learned that Indian tech giant Infosys, in which Rishi Sunak's wife is a shareholder, received a near-50% increase in public sector invoices last year – representing the best-ever year for the firm.

Based on open procurement information analysed by data provider Tussell, LBC can reveal that Akshata Murty's company received £7 million in public sector invoices last year up from £4.7 million in 2022.

The £7.029 million total in public sector invoices includes over £250,000 from the Government Property Agency (GPA), as well as a similar amount from the Care Quality Commission (£270,000) – whilst the London Borough of Brent totalled over £2 million in invoices with Infosys.

Within these invoices, Infosys were given contracts for “Information Communication Technology” (£1.5 million), “Consultant fees” (£1.1 million) as well as “IT Consultancy” (£868,000) across various levels of government.

Public sector invoices show the actual amount spent with a company over a certain period of time.

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Notably, the figures demonstrate at a time of unprecedented stress on council finances, where central government grants to local authorities fell by 40% in real terms between 2009-10 and 2019-20, local government spending on Infosys’s services has risen by 40% in just one year.

LBC can also reveal that in addition to these regular contract wins, the company has also won spots on a number of frameworks in recent years.

Whilst this offers no guarantee of work, it can “give the company an edge in winning contracts in the future” according to Tussell.

Towards the end of 2023, Infosys was one of 28 companies that won a place on the NHS Shared Business Services’ £250 million ‘Intelligence Automation’ Framework, whilst it was also one of 62 companies which won a place on the Financial Conduct Authority’s £563 million ‘Digital Services Framework Agreement’.

The government has also published contracts worth a total of £44 million to the company in 2022, meaning this trend of earnings is set to continue.

One contract published in 2022 was a £7.45 million Infrastructure Testing project with the Home Office, whilst others showed Infosys had contracts over £5.5 million.

In response, Labour’s Jonathan Ashworth told LBC “taxpayers will want to have serious questions answered as to how this firm, with its close links to Rishi Sunak directly, appears to be cashing in”.

Mr Ashworth, who is the Shadow Paymaster General, added “it’s high time we had a full explanation as to all the circumstances as to how this firm has been awarded these lucrative contracts. This is about taxpayers money”

In total between 2012 and 2023 Infosys has been awarded government contracts worth over £100 million.

The Prime Minister has regularly faced scrutiny over the government's relationship with Infosys, in which his wife Akshata Murty currently has a 0.91% stake which was previously valued at £500 million.

It was also revealed that Mrs Murty received dividends of £13 million in the last financial year.

In response a Cabinet Office spokesperson said: "All contracts are awarded following an open and fair process, and decisions are rigorously scrutinised”

"Ministers do not take part in the evaluation or selection of winning bidders."

A source within the government also pointed out that Ministers are asked to declare their relevant interests and that steps are then taken to ensure there is no conflict of interest.