The current regulations are described as “toothless” and lacking in effectiveness by Lord Pickles who is chairman of the Advisory Committee on Business Appointments (Acoba)
The suggestion comes as part of a new ethics regime proposed by Deputy Prime Minister Oliver Dowden.
The regime would introduce financial penalties for ministers found to be in breach of vetting procedures related to post-government jobs, Metro reports.
What changes would be made to the rules?
One particular change aims to address potential violations of Acoba rules, a scenario that recently arose when former Prime Minister Boris Johnson was accused of giving only 30 minutes notice to the committee before taking up a new position as a Daily Mail columnist.
The new ethics regime proposes the introduction of a ‘ministerial deed’ that would legally bind ministers to the same job acceptance restrictions as civil servants, ensuring their compliance even after leaving office.
When asked why he welcomed the measures, vetting watchdog chief Lord Pickles told BBC Radio 4’s Today programme: “Because they (the current rules) are toothless and they need a new pair of gnashers to bite.
“I often write to the Deputy Prime Minister to say: “Such-and-such has caused a problem, and what you do is a matter for you.”
“It is an act of kindness on my part that I say: “Not that you can do anything, because the rules are useless.”
Lord Pickles made it clear that in order for ministers to take this “seriously” they had to have a fine involved.
He added: “These will make the rules legally binding on ministers and on civil servants and it will make very clear that people who regulate can’t expect to go into the same sector when they leave Government. And that applies to civil servants as well as ministers.
“In order for people to actually take these things seriously, there has to be a financial penalty.”
These fines would be reserved for the “most egregious and blatant abuses”.