Treasury Launches Inquiry Into Unaudited Budget Leaks Ahead of November Announcement
Chancellor Rachel Reeves has confirmed that there were numerous unauthorized leaks prior to the November 26 Budget announcement, prompting the Treasury to initiate a leak inquiry. The inquiry, led by the Cabinet Office, will investigate ministers, officials, and advisers not only within the Treasury but also across other departments. On November 13, the Financial Times published a leak claiming that the Chancellor had abandoned plans to raise income tax. Reeves clarified that this was an unauthorized leak rather than an official briefing. Additionally, the Office for Budget Responsibility (OBR) accidentally published contents of the Budget before the official date. In the weeks leading to the Budget, leaks revealed measures such as a pay-per-mile levy for electric vehicles, a tourist tax, and forecasts including an OBR downgrade of productivity and a potential income tax rise, which was subsequently dropped. Following the leak of the OBR's assessment online ahead of the Budget, OBR chair Richard Hughes resigned. Reeves had earlier indicated a possible income tax increase, noting that adhering strictly to Labour's pledge against raising income tax would necessitate significant cuts to public investment.
