When questioned by a committee of legislators, Rishi Sunak failed to disclose that his wife, Akshata Murthy, owned shares in the company Koru Kids, which had been chosen to receive government funding for childcare businesses. As a result, Greenberg launched a probe in April.

Sunak violated the standards of conduct for government ministers, according to Standards Commissioner Daniel Greenberg, although he claimed the error was "inadvertent" and the prime minister should not be punished for it.

Sunak was presenting before the liaison committee, the super-committee of senior MPs, a week following the budget and addressing inquiries. The prime minister was asked if he had anything to say about the selection of the six providers by the Labour MP Catherine McKinnell. "No," Sunak retorted, "all my disclosures are declared in the conventional manner."

The recent spate of ethics scandals has raised questions about the standards of conduct expected of politicians in the UK. It remains to be seen whether Sunak's apology will be enough to satisfy public opinion and whether he will be able to maintain his position as Prime Minister.

Rishi Sunak

After the committee session, it was later discovered that Koru Kids executives had attended a Downing Street event.

When senior crossbench MPs from the liaison committee questioned Sunak about the policy on March 28, Greenberg said Sunak should have disclosed the stake. He published the findings of his probe on Wednesday. But he added that he was persuaded the prime minister had erred by failing to distinguish between the requirements for declaring and registering interests.

The standards commissioner for Parliament declared: “Having considered the information available to me, I have decided that the breach of the code appears to have been inadvertent. I confirm that the matter is now closed.”

Rishi Sunak expressed regret for the error.

With three years of chaos under Johnson and her temporary successor Liz Truss, who resigned within weeks when her policies shook the U.K. economy, Sunak swore to bring order and integrity back to government. However, Sunak, a former investment banker, has come under fire for his wealth and his wife's financial situation, who is the daughter of an Indian millionaire.

Murthy is the owner of the fashion line Akshata Designs and a director of a venture capital company that her father started in 2010.

She is the child of billionaire co-founder of Infosys and India's sixth richest man, N.R. Narayana Murty.

It was discovered last year that Murthy failed to pay U.K. taxes on her foreign earnings, which included $15.5 million in annual dividends from her father's Indian IT company, Infosys.

But Sunak has been made the captain of a ship that is going down. How much of it can he still save, though?

Rishi has his work in economics to his credit; he was a Goldman Sachs investment banker. He does not have Truss' fanatical background and appears to be a lot more moderate Conservative than Truss. Some believe that he could serve as a stabilizing influence and are confident in his ability to avoid making rash choices. That does not, however, imply that he is a miracle worker or that he has the political will, vision, or resolve to turn around the UK's economic fortunes. Even if he did, would it be for the better?

Sunak is a fresh face, a young leader who embodies a modern Britain, however, we must also keep in mind that on a domestic level, Sunak is inheriting a government whose support is at an all-time low. To win back support, he must present his best performance to the British people.

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