Misleading Budget Statements: Call for Market Abuse Investigation

Shadow Chancellor Mel Stride calls for investigation into potential financial market abuse, following claims of misleading information about the nations finances. Rachel Reeves, the Chancellor, had repeatedly spoken of a black hole in the budget, which was later found to be inaccurate. Stride urges the Financial Conduct Authority to look into possible market abuse, focusing on those with access to confidential information, including Treasury and Downing Street officials. New findings reveal that the Office for Budget Responsibility had informed the Chancellor months ago that there was no black hole in the public finances, sparking a heated disagreement between the two. The chairman of the Office for Budget Responsibility is set to face questioning from Parliaments Treasury Select Committee next week regarding the leak. The incident has caused chaos in currency and government debt markets, and many are eager to understand the full extent of what happened and who was responsible.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.