Emma Reynolds, who replaces Tulip Siddiq, pressed government over foreign influence rules while at lobbyist

No 10 has been accused of having a “revolving door” after it refused to say whether the new Treasury minister Emma Reynolds would recuse herself from policy on China after she lobbied the government on the issue.

Reynolds, who worked as managing director for TheCityUK, a lobby group for banks and other financial services companies, had previously pressed the government to make China exempt from the strictest tier of rules on registration of foreign influence.