Labour challenges Nadhim Zahawi over tax and £26m business loan

Shadow minister Pat McFadden seeks answers about chancellor and offshore family firm, and 26m loan his firm spent on property

The shadow treasury minister, Pat McFadden, has written to Nadhim Zahawi, challenging him to provide more clarity about his tax and financial affairs.

Since becoming chancellor after Rishi Sunak resigned earlier this month, Zahawi has faced persistent questions about his relationship to a Gibraltar-based firm, Balshore Investment, controlled by his parents.