""Confidential market sensitive information appears to have been spun, leaked and misused - and markets, businesses and families have paid the price," he claimed."
""It seems increasingly clear that the Chancellor has been giving an inaccurate picture of the economic and fiscal context and this appears to be driven by political considerations," he wrote."
"He claimed "leaks and spin" from the Treasury had led to market speculation being "rife and the gilt markets volatile"."
Mel Stride, the shadow chancellor, has asked the Financial Conduct Authority to investigate possible market abuse by personnel in the Treasury and Downing Street during the Budget run-up. He alleged confidential, market-sensitive information was spun, leaked and misused, causing harm to markets, businesses and families. Chancellor Rachel Reeves denied misleading the public after being told the fiscal position was stronger than widely understood, yet she gave briefings the Conservatives called overly pessimistic. Conservatives demanded her resignation and argued political considerations produced an inaccurate portrayal of the economic and fiscal context. The FCA confirmed receipt of the letter and will respond; markets and gilt yields have been closely watched.
Read at www.bbc.com
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