Badenoch: Reeves could be prosecuted for market abuse over claims before Budget

Evening Standard

The Chancellor could be prosecuted for market abuse, Kemi Badenoch has claimed as she came face-to-face with Sir Keir Starmer for the first time since the Budget was announced during Wednesday's Prime Minister's Questions.Rachel Reeves has faced accusations she misled voters by overstating the scale of the fiscal challenge in the run-up to last week’s Budget, in which she announced £26 billion of tax rises.She has also reportedly been accused of misleading the Cabinet.

Transcript

00:00Mr. Speaker, he doesn't want to answer a question about taking responsibility

00:03because he likes to blame everyone else except himself, and so does the Chancellor.

00:08We now know that the head of the OBR was forced out for telling the truth

00:14that the Chancellor did not need to raise taxes on working people.

00:19We also know that the Chancellor was briefing the media, twisting the facts,

00:27all so she could break her promises and raise taxes.

00:32Mr. Speaker, if she was a CEO, she would have been fired,

00:36and she might even have been prosecuted for market abuse.

00:41That's why we've written to the Financial Conduct Authority.

00:45So will the Prime Minister ensure the Chancellor fully cooperates with any investigation?

00:52Mr. Speaker, she's completely losing the plot.

00:57She clearly didn't read.

01:01May I pay tribute to Richard Hughes and his leadership of the OBR?

01:05He made very clear why he stepped down, and I made very clear my support of the OBR.

01:10But she says take responsibility.

01:12Under this Chancellor, Mr. Speaker, growth is up this year,

01:15defeating and beating the forecast.

01:17Wages are up, more since the general election than in 10 years of the Tories.

01:22We've had, I think, five interest rate cuts.

01:25NHS waiting lists are down.

01:27We've had record investment into this country.

01:29We're turning the page on their austerity and reckless despairing on borrowing.

01:33I'd compare that record to them every day of the week.

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