Britain’s government is investigating how details of a bank tax rise were reported in the media before finance minister John Healey announced them in his budget last month, according to a letter published by a parliamentary committee yesterday.
Hours before Healey’s October 28 budget, Bloomberg reported that it would contain a temporary bank tax increase of less than eight per cent, lower than lenders had feared, sending bank shares rallying.
In a letter to parliament’s Treasury Committee, the finance ministry’s top civil servant James Bowler said he had been assured that no banks, their representatives, or trade bodies were briefed on the changes before Healey’s statement.
The leak inquiry represents a setback for Healey, who has sought to tighten Treasury security since last year’s budget, when the budget watchdog’s forecasts were accessible before then-finance minister Rachel Reeves began speaking, as Reuters first reported.
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