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Angela Rayner has called for an investigation into Chancellor Kwasi Kwarteng over his alleged “budget day” cocktail party. This comes amid reports that the chancellor attended a private champagne reception hours after delivering his mini-budget. It has been alleged that hedge fund managers who would gain from a crash in the pound egged him on to commit to his plans.
According to the Times, the Chancellor gave guests at the reception insights into forthcoming government spending cuts.
The event reportedly took place at the Chelsea home of Andrew Law, a financier and Conservative Party donor, on the evening of Friday, September 23.
Writing on Twitter about the reports, Ms Rayner said: “This is alarming behaviour. The Chancellor faces incredibly serious questions about his conduct.
“These claims now need to be thoroughly investigated to determine if the Ministerial Code has been broken.”
Around 30 people are thought to have been in attendance at Mr Law’s party including the stockbroker Howard Shore; the Swiss-born London banker Sir Henry Angest; Lord Leigh of Hurley, a corporate financier; Selva Pankaj, a merchant banker and investor; and Jake Berry, the Conservative Party chairman.
Others present included William Salomon, a senior partner at Hansa Capital, and Andrew Dawber, director of Civitas Investment Management.
According to the Times, some guests explicitly told Mr Kwartng to “double down” on his policies.
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