John Healey Faces Questions Over Budget Leak That Moved Bank Share Prices

John Healey is under pressure to clarify whether he permitted a market-sensitive budget leak that moved bank share prices ahead of his official statement. Meg Hillier, chair of the influential Commons Treasury select committee, has written to the Treasury and the Financial Conduct Authority (FCA) to investigate whether a story leaked to Bloomberg—published more than an hour before the budget was revealed—constituted an “improper release of inside information.” The leak involved details of a tax surcharge on banks, prompting immediate share price movements and raising serious concerns about market integrity and the handling of confidential fiscal information. This development could lead to a formal FCA investigation into potential breaches of market abuse regulations, with implications for government transparency and accountability. The Treasury’s response will be closely watched as MPs seek to determine whether proper protocols were followed in the run-up to a major fiscal announcement.