Andy Coulson owned shares in News Corporation while working for Prime Minister A spokesman for the Cabinet Office said: "On appointment, Andy Coulson complied with recruitment processes, including declaration of any interests to the Cabinet Office." She refused to say whether or not Mr Coulson had reported the shareholding. Rumours of Mr Coulson's financial connection with News International, which is a subsidiary of News Corporation, had circulated previously. In July 2009 while appearing before a parliamentary inquiry, Mr Coulson was asked whether he had any "secondary income" while working for the Conservative party. Mr Coulson insisted his sole income was from the Conservative party. In February last year, the Conservative party spokesman, Henry MacRory said: "I'm 100% satisfied that there is no truth in the suggestion that Andy was bankrolled by News International or by anybody else." The disclosure will put further pressure on Mr Cameron and raise questions about the Prime Minister's decision to employ Mr Coulson as communications director in 2007 despite warnings about his fitness for the role. In July last year, Mr Cameron said he sought "assurances" from Mr Coulson, but did not specify the assurances given by the former News of the World editor. I sought some specific assurances but also some general assurances as you would expect. It was a series of conversations, a series of meetings we had after he resigned from the News of the World, before he came to work with me at Conservative Central Office," Mr Cameron last year. Mr Cameron also commissioned a company to do "a basic background check" on Mr Coulson, but this may not have revealed his shareholdings. According to the Independent on Sunday, Mr Coulson is believed to have been given the shares as part of his leaving package from the News of the World. Mr Coulson resigned over the News of the World hacking affair in 2007 shortly before he was recruited by Mr Cameron and the Chancellor George Osborne. In an interview with Sky on Sunday, the Business Secretary Vince Cable said he felt "vindicated" by his stance on BSkyB. "I certainly do feel vindicated, and I certainly dealt with it in an entirely proper and fair way," said Mr Cable, who said he had "declared war" on Rupert Murdoch in 2010. Mr Cable decided not to resign from the government following the publication of his remarks and, at the time, said that he apologised for the embarrassment and "fully" accepted Mr Cameron's decision to hand the quasi-judicial role on the BSkyB deal to the Culture Secretary Jeremy Hunt.