Conservative former UK chancellor Kwasi Kwarteng added to Andrew Forrest’s Fortescue Metals Group churn list

Conservative former UK chancellor Kwasi Kwarteng has become the latest name added to Fortescue’s long list of staff churn with a new $3500 per hour consultancy gig already drying up.

Mr Kwarteng’s post-politics career had been looking bright with the Australian mining giant after he received £35,000 (almost $70,000) for 20 hours as an expert advisor.

He had also secured an exclusive invite to billionaire mining magnate Andrew “Twiggy” Forrest’s 20th anniversary held in the Pilbara last August.

After Mr Kwarteng’s surprise in-person attendance raised questions, it was revealed Dr Forrest had offered him work in an advisory capacity to his green energy arm.

But just as soon as the work started, it was revealed Mr Kwarteng and FMG had cut ties for the foreseeable future.

“The work is not ongoing,” the MP claimed this week, which was later confirmed by Fortescue.

Both parties have remained tight-lipped on what has prompted such an early spilt.

Their parting comes after several delays and hurdles in setting up the work after Mr Kwarteng was barred from advising on UK energy affairs and lobbying by Britain’s Advisory Committee on Business Appointments.

The body stated Mr Kwarteng was required to undertake a 12-month waiting period from when he was in office as chancellor, which ended in mid-October, before taking up the two-day-a-week role.

In a statement, the committee claimed the decision had been based on “real and perceived risks” that he could use his network to give Fortescue an unfair advantage.

When he did eventually take up the role, it’s understood the 20 hours he was engaged were spread across three months.

The consultancy payment from Fortescue Future Industries International Pty Ltd was listed in his financial disclosures lodged to the British Parliament.

No other benefits have been disclosed from the miner.

Mr Kwarteng has also insisted he had paid for the round trip to Dr Forrest’s Solomon mine site in remote WA — travelling from London via Hong Kong and Sydney for just one night — which was his first time in Australia.

Dr Forrest has faced criticism over high executive turnover, which has included the inauspicious departures of former chief executive Fiona Hick and chief financial officer Christine Morris late last year.

Former Prime Minister Malcolm Turnbull formally left the Fortescue earlier this year — as did Reserve Bank of Australia deputy governor Guy Debelle, who resigned from his board position.

Mr Kwarteng was the second shortest-serving chancellor in UK history after he was sacked by Liz Truss within 38 tumultuous days during her brief prime ministership.

His mini-budget had caused major financial turmoil in the UK, triggering higher mortgage costs for millions and casting a disastrous shadow on his political career.

Last month, Mr Kwarteng announced he wouldn’t contest the next election after serving the British electorate of Spelthorne since 2010 when then-Conservative Party leader David Cameron shot to power.

It’s unclear whether Mr Kwarteng received any further payments beyond the initial FMG takings, which had been officially disclosed to UK Parliament in late January and published last month.