Prior to the Sunday Times story being published, the party’s chief whip Lee Anderson said McMurdock had informed him he had “removed the party whip from himself pending the outcome of an investigation”.
The paper alleged that McMurdock borrowed tens of thousands of pounds under the government’s Bounce Back loans scheme, which was designed to help struggling businesses during the Covid-19 pandemic.
The newspaper said the loans were worth a total of £70,000 and were applied for through two companies – JAM Financial Limited and Gym Live Health and Fitness Limited.
Company records show JAM Financial Limited had one employee and less than £5,000 in assets before the pandemic, and that Gym Live Health and Fitness Limited was dormant until January 31, 2020.
The Sunday Times claimed JAM Financial Limited took out the maximum loan of £50,000, a level of loan that required a turnover of at least £200,000.
Gym Live Health and Fitness Limited is alleged to have taken out loans worth £20,000, which would have required a turnover of £80,000.
In statement, McMurdock said his business dealings had been assessed by “appropriately qualified professionals” and “absolute compliance was confirmed”.
He continued: “As a precautionary measure, and for the protection of Reform UK, I have asked to have the whip suspended temporarily.”
