Rachel Reeves accused of cavalier attitude to expenses during banking career
GuardianFEB 13
UK: Reeves Faces Social Media and Expenses Criticism
Above: Rachel Reeves, UK Chancellor of the Exchequer, starts the magnet impregnation chamber machine at the Siemens Healthineers factory near Oxford, UK, on Jan. 29, 2025. Image copyright: Chris Ratcliffe/Contributor/Bloomberg via Getty Images
The Facts
A BBC investigation claims that Rachel Reeves, while working at Halifax Bank of Scotland (HBOS), was subject to an internal audit investigation in early 2009 regarding her use of company expenses, alongside two other senior managers.
The investigation stemmed from a six-page whistleblowing complaint that alleged Reeves and two colleagues were using bank funds to "fund a lifestyle" through spending on dinners, events, taxis, and gifts — including purchases such as a £400 ($504) meal and a £152 ($192) handbag with perfume.
Documents allegedly Reeves spent company money on items including handbags, perfume, earrings, and wine for colleagues, though there is no evidence the investigation reached a conclusion before she left HBOS in May 2009.
The Spin
Narrative A
Criticism of Reeves is overblown and ignores key facts. Reeves was appointed Chancellor due to her proven abilities. Moreover, Reeves's expenses were properly submitted and approved, with no disciplinary action taken. Former HBOS human resources partner Jane Wayper has also confirmed she knew of no investigation and that she left the company on good terms, solidifying the Chancellor's credibility amidst this unnecessary scrutiny.
Narrative B
Reeves's credibility is under serious question. Misrepresenting her time at the BoE undermines her trustworthiness. Moreover, her LinkedIn profile suggests a pattern of embellishment. Her colleagues' attempts to downplay the controversy have only worsened the situation — raising doubts about the entire government's integrity. Can Reeves and Labour truly be trusted with the UK's finances?