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Treasury Minister Tulip Siddiq has resigned amid increasing pressure related to an anti-corruption inquiry in Bangladesh. Siddiq voluntarily sought advice from Sir Laurie Magnus, the Prime Minister's standards advisor, following inquiries regarding her connections to her aunt, who was deposed as Bangladesh's prime minister last year.

Although Sir Laurie did not find any evidence of wrongdoing, he expressed disappointment that Siddiq had not been more cautious about the potential risks related to her links to her aunt. Siddiq stated that remaining in her position would be a distraction for the government, emphasizing her innocence.

Prior to her resignation, Siddiq was implicated in a separate investigation in Bangladesh. Conservative leader Kemi Badenoch accused the Prime Minister of hesitating to shield Siddiq, despite facing legal action from Bangladesh. Siddiq's resignation was eventually accepted by Sir Keir, who left the door open for her return in the future.

Siddiq's aunt, Sheikh Hasina, the former Bangladeshi Prime Minister and Awami League leader, fled into exile after her removal from office last year. Siddiq, a Labour MP for Hampstead and Highgate, faced scrutiny regarding properties in London associated with her aunt's acquaintances. Siddiq had reportedly received a flat as a gift from a developer with alleged ties to her aunt, leading to unintended misinformation.

Sir Laurie's investigation focused on Siddiq's unawareness of the origin of her ownership of a property in Kings Cross, despite signing related documents at the time. The investigation affirmed Siddiq's financial transparency and legitimate sources of income. Meanwhile, ongoing corruption claims in Bangladesh implicated Siddiq in alleged misconduct by association with her aunt.

Siddiq clarified her involvement in a 2013 deal with Russia during an anti-corruption probe in Bangladesh. She explained her presence at a nuclear power plant's signing ceremony as a social visit, unrelated to official matters. Despite these clarifications, her familial ties led to allegations, prompting caution from Sir Laurie regarding reputational risks.

Siddiq's departure led to Emma Reynolds being appointed as the new Economic Secretary to the Treasury. Reynolds, a seasoned politician and former managing director, is set to replace Siddiq. The allegations made by Bangladesh's Anti-Corruption Commission against Siddiq remain unproven, with her denying any involvement in the claimed misuse of power.