Rishi Sunak broke the MPs’ code of conduct by failing to correctly declare his wife’s financial interest in a childcare agency, the Commons’ standards commissioner has said.

The Prime Minister was investigated in relation to shares Akshata Murty holds in the firm Koru Kids, which was boosted by the Budget in the spring.

Daniel Greenberg, the standards commissioner, concluded the breach arose out of Mr Sunak’s “confusion” around the rules on declaration.

He has now closed the inquiry without the need for further action after finding the error to have been made inadvertently. Mr Sunak has apologised following the ruling.

Mr Sunak declared Akshata Murty’s stake in Koru Kids in the ministerial register of interests after he failed to mention it when being questioned by an MP on the Liaison Committee.