Boris Johnson 'had cousin act as guarantor' for loan while PM

The former PM, who was forced to resign after a record 50 ministers and government aides walked out, was said to have sought this loan to deal with 'day-to-day' expenses.

A spokesperson for the former Conservative leader, when asked about the report, said that Johnson's finances “are and were properly declared”.

Adding that advice was sought from UK Government officials and ethics advisors before any arrangements were made.

PA/HoC - Boris was ousted as PM after a record number of ministers and government aides resigned (Image: PA/HoC)

According to The Sunday Times, the Canadian businessman Sam Blyth, worth an estimated 50 million dollars, agreed to act as the then-PM's guarantor for the credit facility.

The report added that Blyth is a friend of Johnson's father with both their mothers reportedly being cousins.

This credit is claimed to have been available from February 2021 but Johnson's spokesperson stressed that he “did not take a loan from Sam Blyth”.

The newspaper also found that Boris Johnson was in desperate need of financial aid despite earning £164,000 as the country's most senior minister.

An anonymous source told reporters that Johnson was on the brink of “going broke” and there were fears that he “would not be able to pay his own annual tax bill”.

Before becoming Prime Minister, Boris earned £275,000 a year writing a weekly column for The Daily Telegraph, money that he did not have access to after entering Downing Street.

Johnson and his wife Carrie are also said to have holidayed at Blyth's Dominican Republic property when his successor Liz Truss was ousted as the shortest-serving UK PM.

This property is supposedly advertised by Blyth at £4,100 per night.

PA - Boris and his wife reportedly stayed at Blyth's Caribbean property while Liz Truss was being ousted (Image: PA)

The Sunday Times said that when using Blyth as a guarantor was signed off by the Cabinet Office propriety and ethics team, it was on the condition there be "no conflict of interest, no risk of a conflict of interest, and no risk even of the perception of such a conflict”.

When arrangements were being made to make Blyth a guarantor on the loan, the businessman was also being considered for a non-departmental role as chief executive of the British Council.

However, a spokesperson for Johnson insisted that the former PM did not assist or even know about the position consideration.

The council ended up deciding against Blyth.

In a statement, Johnson's spokesperson said: “It is completely untrue that Boris Johnson in any way assisted with, or was even aware of, any application by Sam Blyth – formal or informal – to serve in any position whatever with the British Council, and neither was anybody in No 10 who was acting on his behalf.

“As far as he is aware no-one in No 10 either knew about this alleged application or did anything to advance it.”

Adding: “All Boris Johnson’s financial interests are and were properly declared.

“Boris Johnson sought advice from the Cabinet Secretary, the independent adviser on ministerial interests, and the propriety and ethics team.

“He followed their advice in full, as the Cabinet Office has confirmed.”