Inquiry demanded into claims Boris Johnson backers will profit from ‘no deal’ – and it can’t come soon enough

The sign says ‘leader’: but is there somebody in the shadows, telling him what to do in their interest, rather than that of the UK as a whole?

The Labour Party has demanded an independent “conflict of interest” inquiry into Boris Johnson, over claims that the prime minister’s backers will profit hugely from a “no deal” Brexit.

John McDonnell, shadow chancellor, has written to the UK’s most senior civil servant, Cabinet Office secretary Mark Sedwill, calling for an investigation into alleged collusion with currency speculators.

The demand is based on comments by Mr Johnson’s sister Rachel and claims by former chancellor – now an Independent MP – Philip Hammond that speculators were investing in “short” positions – betting on the pound plummeting and inflation rocketing – after a “no deal” Brexit.

It has been reported that they could make more than £8 billion – while the rest of us suffer.

In his letter to Sir Mark, the shadow chancellor said there had been widespread reports of increases in short positions taken against sterling in the lead-up to a possible no-deal Brexit.

Mr Johnson and the Conservative party had received “a significant sum” in donations from no-deal backers, a number of who are involved in hedge funds, he said. Meanwhile, the PM has made it clear he is ready to go ahead with a no-deal outcome to the UK’s withdrawal from the EU.

“These three facts have caused concern that the prime minister may have a conflict of interest,” wrote Mr McDonnell. “Donors to the Conservative party and/or the prime minister could stand to gain from a no-deal Brexit – even if only through cushioning losses by adopting short positions. The prime minister could reasonably be seen as having an interest in securing a no-deal Brexit to financially benefit his donors.”

He added: “It is becoming increasingly apparent from public comment that the prime minister is bringing into doubt whether he is upholding the highest standards, thereby further undermining public confidence and trust in him and his government… It is important for public confidence and trust in the House of Commons that any real or apparent conflict of interest is investigated.”

“The prime minister could reasonably be seen as having an interest in securing a no-deal Brexit to financially benefit his donors.”

No UK public servant can serve two masters in such a way, and for a prime minister the good of the nation must come before any personal benefit to that person, their friends or supporters.

The Jennifer Arcuri scandal has already placed significant doubt on Mr Johnson’s loyalties. The British public consider him entirely capable of putting the interests of himself and his financiers before those of the nation.

And in the meantime the Brexit deadline clock is ticking down to October 31.

Mr Sedwill must agree to this inquiry, and it must be carried out with haste. Everybody needs to know the facts before it is too late.

Source: Brexit: Labour demands inquiry into ex-chancellor’s claims Boris Johnson backers set to profit from no-deal | The Independent

Have YOU donated to my crowdfunding appeal, raising funds to fight false libel claims by TV celebrities who should know better? These court cases cost a lot of money so every penny will help ensure that wealth doesn’t beat justice.

Vox Political needs your help!
If you want to support this site
but don’t want to give your money to advertisers)
you can make a one-off donation here:

Donate Button with Credit Cards

Here are four ways to be sure you’re among the first to know what’s going on.

1) Register with us by clicking on ‘Subscribe’ (in the left margin). You can then receive notifications of every new article that is posted here.

2) Follow VP on Twitter @VoxPolitical

3) Like the Facebook page at

Join the Vox Political Facebook page.

4) You could even make Vox Political your homepage at

And do share with your family and friends – so they don’t miss out!

If you have appreciated this article, don’t forget to share it using the buttons at the bottom of this page. Politics is about everybody – so let’s try to get everybody involved!

Buy Vox Political books so we can continue
fighting for the facts.

The Livingstone Presumption is now available
in either print or eBook format here:

HWG PrintHWG eBook

Health Warning: Government! is now available
in either print or eBook format here:

HWG PrintHWG eBook

The first collection, Strong Words and Hard Times,
is still available in either print or eBook format here: