John Healey faces scrutiny after Bloomberg leak moved bank shares
UK Chancellor John Healey is catching heat after a budget leak reportedly moved bank share prices.
More than an hour before Healey's budget statement, Bloomberg revealed the new bank tax would be lower and short-term, sparking questions about whether some insiders got an early heads-up.
Treasury committee asks FCA investigate tip-offs
Parliament's Treasury committee wants the financial watchdog (FCA) to dig into how this information got out and if banks were tipped off before everyone else.
Committee chair Meg Hillier put it simply: "I would welcome your view on whether this event might be considered an improper release of inside information and your assessment of its impact on the market in relevant securities."
Healey, who plans to raise the bank surcharge from 3% to 6% for 15 months starting January 2027 (to help with energy costs), will have to answer these questions when he faces the committee next month.