UK: Ethics Advisor Looking As Chancellor Again After Emails Come To Light

Oct-30 16:22

Pippa Crerar at The Guardian posts on X: "Keir Starmer's ethics adviser is looking again at Rachel Reeves's failure to get a licence to rent out her home, after new emails emerge. No 10 spox says PM, who has seen the emails, still has full confidence in chancellor. The emails - between Reeves's husband Nicholas Joicey and (we think) the letting agent and/ or council - are expected to be published later today. Spox: "Following a review of emails sent and received by the chancellor's husband, new information has come to light. This has now been passed to the prime minister and his independent adviser."

  • Earlier today, it appeared that Chancellor of the Exchequer Rachel Reeves would face no further action over the issue, after an exchange of letters with PM Sir Keir Starmer in which she admitted to the fault. Starmer said he accepted her version of events and that independent ministerial ethics advisor Laurie Magnus had looked at the situation and said it did not warrant a further investigation (see 'UK: Reeves Looks To Have Survived Rental Blunder, But Comes At Bad Time', 08:52BST).
  • Throughout the day, though, pressure has mounted on Reeves over the situation.
    • The Guardian reports, "When it was put to [No.10 spox] that Starmer had done a quick “stitch-up” to avoid upsetting the markets and “the chancellor has got away scot-free”, the spokesperson replied: “I don’t accept the framing of that at all.”
    • Focus on a post on X from Reeves just 10 days ago, touting the selective landlord licencing policy that she fell foul of with her property, has done further damage. 

Historical bullets

PIPELINE: Corporate Bond Roundup: $11.25B Kuwait 3Pt Launched

Sep-30 16:21
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OPTIONS: Larger FX Option Pipeline

Sep-30 16:13
  • EUR/USD: Oct02 $1.1695-00(E1.5bln), $1.1750(E1.1bln), $1.1785-90(E2.8bln); Oct03 $1.1700(E1.1bln), $1.1845-55(E1.9bln), $1.1875(E1.2bln)
  • USD/JPY: Oct02 Y147.95-00($1.6bln), Y149.50($1.0bln); Oct06 Y147.00($1.2bln)
  • AUD/USD: Oct02 $0.6600(A$1.7bln); Oct03 $0.6600(A$1.5bln); Oct06 $0.6700(A$1.1bln)
  • NZD/USD: Oct03 $0.6450(N$1.2bln)

FED: US TSY TO SELL $67.000 BLN 17W BILL OCT 01, SETTLE OCT 07

Sep-30 16:05
  • US TSY TO SELL $67.000 BLN 17W BILL OCT 01, SETTLE OCT 07