Brexit: Positions on the Pound - Statement

Part of the debate – in the House of Lords at 5:42 pm on 30th September 2019.

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Photo of Baroness Kramer Baroness Kramer Liberal Democrat Lords Spokesperson (Treasury and Economy) 5:42 pm, 30th September 2019

Perhaps the Minister can help us more on the conflict of interest issue. I am sure that he will confirm that there has been extensive short selling against the pound—that is not illegal—on scales that we have not seen before, and short selling against the shares of major companies in the UK. Does he not agree that there is short selling on the grounds that a no-deal Brexit will do so much damage to the UK economy that, by betting against Britain, some people stand in a position to make millions? Does he consider it to be a pure coincidence or one worth exploring that many of those short sellers—I think they take the name of “vultures” by their own choice—were also donors to Boris Johnson’s leadership campaign and are donors to the Tory party? Does that need examination?