Rachel Reeves, the Chancellor of the Exchequer, is facing renewed scrutiny following allegations that she overstated her time at the Bank of England and potential misconduct regarding expenses at Halifax Bank of Scotland. A BBC investigation revealed discrepancies in her CV and unearthed whistleblower claims alleging inappropriate expense claims during her tenure at HBOS.
Rachel Reeves , the Chancellor of the Exchequer, has once again been forced to correct her CV after allegations surfaced that she exaggerated the length of her tenure at the Bank of England. A BBC investigation revealed that Reeves departed from the Bank nine months earlier than indicated on her LinkedIn profile. A spokesperson for Reeves acknowledged the inaccuracy in the dates, attributing it to a clerical error by her staff.
She left the Bank by March 2006, when she began working for Halifax Bank of Scotland (HBOS) in West Yorkshire, BBC News reports. This means she spent just over six years at Threadneedle Street, rather than the close to 10 years she claimed in several interviews. In February 2022, at a Labour Party business conference, she stated: 'I spent the best part of a decade as an economist at the Bank of England'.Her career at the Bank of England began in 2000 as an analyst and, by 2006, she had risen to the position of structural analyst, following a year in Washington DC at the British Embassy. This recent correction marks the second time Reeves has had to amend her CV since joining the government last year. Previously, she conceded that her role at Halifax was in the customer relations department, rather than the retail banking division as initially stated, according to reports from The Express. The BBC has also conducted an extensive investigation into Reeves's time at HBOS after allegations regarding her expenses at the company circulated online. Kev Gillett, a former Halifax colleague, claimed on social media that Reeves 'nearly got sacked due to an expenses scandal where the three senior managers were all signing off each others expenses'. Despite Reeves's team vehemently denying these allegations, the BBC discovered another post in a private Facebook group for ex-HBOS employees. In this post, someone asked if anyone remembered Reeves from her time working alongside them. A former employee responded: 'The expenses dept certainly do!' Several others alluded to the allegations. The broadcaster has now verified that an expenses investigation into Reeves and two senior management colleagues took place during her tenure at the bank. However, there is no evidence that the investigation concluded before she left HBOS on 'good terms'.The whistleblowing complaint contained numerous pages of evidence, highlighting concerns about Reeves and others utilizing the bank's money to 'fund a lifestyle'. This included expenditure on meals, events, taxis, and gifts. The complaint, lodged in 2009, accused the current Chancellor of spending hundreds of pounds on handbags, perfume, earrings, and wine. A source from the bank's risk department stated: 'Given the nature of the allegations – claiming expenses for things you wouldn't normally claim expenses for – and the relative seniority of the individuals, the matter was referred for investigation by a team outside of that department.' It is alleged that the internal audit team discovered evidence of misconduct by Reeves and her two colleagues, before submitting their findings to the risk department in April 2009. However, there is no evidence that the next stage of the interview process took place or that it reached a conclusion.Conservative leader Kemi Badenoch has stated that Reeves has 'serious questions' to answer regarding her expenses at HBOS, warning that the government won't be taken seriously until she 'comes clean'. Reeves left HBOS in May 2009, with no suggestion that her departure was linked to the investigation. Her team pointed out that she was allowed to keep her company car for six months after leaving, indicating that she parted ways with the bank on 'good terms' and received a 'severance payment, including full notice pay and a bonus'. The BBC's investigation raises significant concerns for Rachel Reeves. Keir Starmer has stated that 'restoring trust in politics is the great test of our era'. Until she provides clarity - not just about her CV but also about the circumstances surrounding her departure from HBOS, her credibility will be in question. A spokesperson for the Chancellor said: 'Rachel is proud of the work she did at HBOS and the teams that she led, it is 16 years since she left the bank and the first time she was made aware of these claims was when approached by journalists. '. 'She was not aware of an investigation nor was she interviewed, and she did not face any disciplinary action on this or any other matters. All expenses were submitted and signed off in the proper way.' Several former colleagues from her time at HBOS, including the bank's former HR business partner, have corroborated this account. 'Rachel left HBOS in 2009 on good terms
Rachel Reeves Chancellor Expenses Scandal HBOS Bank Of England CV Discrepancies Conservative Party Labour Party
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