UK’s Labour Demands Javid Address No-Deal Brexit Short Bets On Sterling | 9/30/2019 | Staff
Firefang (Posted by) Level 4
LONDON (Reuters) – Britain’s opposition Labour Party will ask finance minister Sajid Javid to make a statement in parliament on Monday on short positions against the pound in the lead-up to a possible no-deal Brexit, party officials said.

Labour’s John McDonnell, the party’s top finance official, would seek the statement, Labour officials said on Twitter.

McDonnell - Saturday - Mark - Sedwill - Government

McDonnell said on Saturday he had asked Mark Sedwill, the government’s cabinet secretary, to investigate any conflict of interest after former finance minister Philip Hammond said “speculators” who backed Prime Minister Boris Johnson stood to profit from a falling pound in the event of a no-deal Brexit.

Sterling plunged after the Brexit referendum in June 2016 and it is widely expected to slide again if Johnson takes the country out of the European Union on Oct. 31 without a transition deal, something he says he is prepared to do despite efforts by lawmakers to...
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