Tories Demand Investigation into Rachel Reeves' Secret Meetings with City Firms

Conservative lawmakers have called on the Whitehall sleaze watchdog to investigate former Chancellor Rachel Reeves over undisclosed meetings with City firms. The calls follow claims that Reeves, along with her former spin doctor Ben Nunn, met with two financial companies in the fortnight preceding a recent Budget announcement. These meetings reportedly discussed the political advice the pair could offer, with sources suggesting chief executives had met Reeves multiple times during her tenure as Chancellor.

The discussions also encompassed Nunn's newly launched political advisory firm, Arlington Road Consultants. The emergence of these meetings has fueled speculation in Westminster that Reeves, the MP for Leeds West, may soon resign her Commons seat, a move that would allow her to leverage her experience in the private sector. Such speculation follows the precedent set by former Prime Minister Sir Keir Starmer, who resigned his seat.

However, strict government rules govern the post-office employment of former ministers to prevent any perception of undue influence or the disclosure of privileged information. These Business Appointment Rules limit the activities former ministers can engage in for a specified period after leaving office.

Nunn, who served as Reeves' senior adviser at the Treasury until she was dismissed by incoming Prime Minister Andy Burnham in July, is also subject to similar advisory rules. Both Reeves and Nunn are prohibited from lobbying the government for two years after leaving their official posts. Tory chairman Kevin Hollinrake has written to Sir Laurie Magnus, the Independent Adviser on Ministerial Standards, urging Reeves to adhere to these regulations. Hollinrake stated that if Reeves was meeting City firms with her former adviser to solicit business shortly before a Budget she helped prepare, it would represent a "scandalous breach of very clear rules."

He emphasized that these rules are designed to prevent the misuse of privileged information and the appearance of such misuse. Hollinrake called for Reeves to publicly account for her actions, asserting that a failure to do so would suggest a double standard for Labour MPs. Nunn's consultancy, Arlington Road Consultants, is named after a group involved in a past political maneuver to replace Jeremy Corbyn with Sir Keir Starmer. Critics suggest the firm may enable Reeves to approach City firms discreetly. The previous year's Budget, which Reeves and Nunn oversaw, faced criticism for leaks and public confusion, earning it the moniker 'hokey cokey Budget.' In contrast, her successor, John Healey, has adopted a more cautious approach, downplaying speculation around the recent fiscal statement.

Ms. Reeves was approached for comment on the meetings, and Mr. Nunn declined to provide a statement.