Rachel Reeves claims that she worked as an “economist” at the Bank of Scotland before entering politics. But a new investigation has discovered she was in fact a mid-level administrative support worker, not an economist at all. Guido has the story.
After serving in a trio of junior positions at the Bank of England, Rachel says that in 2006 she moved to the Bank of Scotland (HBOS) to work as an “economist,” before leaving in 2009 to serve as MP. Guido spoke to colleagues of Reeves’ from her Bank of England days – one described her as having a reputation for being “f***ing useless”. …
The Chancellor states on her LinkedIn that she was working as an “economist” at HBOS. This is not true. Guido can reveal that Reeves worked in a mundane support department at the bank, according to multiple former colleagues. Within the Halifax/HBOS Complaints team there was a small support unit which managed administration processes, IT matters, and small projects and planning. It was a team of three people far from the Economics Department. Reeves held a mid-level position. HBOS was acquired by Lloyds in 2009 and the Chancellor left in December of that year to pursue a career in politics.
Worth reading in full.
No wonder she’s making such a hash of things. As the Telegraph‘s Matthew Lynn points out, her ‘rinse the rich’ Budget has already backfired as Britain’s millionaires flee the country in droves. The problem is, she and Starmer “chose to ignore the warning that in a world far more mobile than ever much of the wealth they were targeting would simply relocate elsewhere. Their Budget plans are now in tatters as their Treasury officials point out that the Government will collect less money instead of more”. Any half-decent economist could have told her that, of course.
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