Treasury Budget Leaks Hit Savings of Reeves’ Former Colleagues – Guido Fawkes

Treasury Budget Leaks Hit Savings of Reeves’ Former Colleagues

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Reeves’ former colleagues still in banking will not be thanking her today. Bank shares fell overnight after an IPPR report calling for a fresh tax on the interest banks get from the Bank of England coincided with an FT story on the sector expecting to be targeted by the Chancellor. Everyone is extremely jittery amid constant tax-hike briefings from the Treasury ahead of the Budget…

NatWest shares fell by 5.3%, Barclays 3.8%, and Lloyds Banking Group 5.2%. Lloyds has 2.2 million private shareholders including “most of our employees,” who number over 60,000. Reeves’ old bank has been part of Lloyds since 2009…

Reeves’ old HBOS colleagues who still work there and own shares in LBG will have seen the value of their shares take a hit thanks to the ideas of the so-called “economist” hitting the press early. Panicked pre-briefing to tank confidence prior to a tax-raising budget is certainly a strategy…

Reeves’ new address has changed from “HBOS Complaints team” to “11 Downing Street.” Former water cooler chums can direct their complaints there…