Calls to investigate claims Treasury misled the public
Treasury accused of giving ‘deliberately false and misleading’ pre-Budget briefings
- The Treasury has been accused of giving "deliberately false and misleading" briefings about a £20 billion fiscal "black hole" ahead of the recent Budget.
- The Scottish National Party (SNP) has urged the Financial Conduct Authority (FCA) to investigate these claims, suggesting potential "market manipulation" by Chancellor Rachel Reeves.
- Ms Reeves had previously indicated a significant shortfall, linking poor productivity growth to the need for tax rises.
- However, the Office for Budget Responsibility (OBR) disclosed it had informed the Chancellor in September that the fiscal gap was likely smaller than initially anticipated.
- SNP Westminster leader Stephen Flynn described the Budget as "built on a lie" and highlighted the alleged briefings' impact on financial markets and interest rates.