Reeves under fire over Labour cronyism at Treasury

  • Post last modified:August 15, 2024
  • Reading time:10 mins read


The UK’s political cronyism saga continues – just this time, with the Labour Party at the reigns. A mere six weeks after Starmerites puffed up “Change” from Labour like some overpriced perfume, something stinks of corruption in the right-leaning government ranks. Naturally, it’s new neoliberal chancellor Rachel Reeves that reeks of it at the

Rachel Reeves: stench of cronyism

Politico carried the initial scoop about Reeves on 7 August. Specifically, it reported on the Treasury appointment of Labour party donor and business adviser Ian Corfield. In July, the Treasury made him a director. However, Politico unearthed that banker had donated £20,000 across the previous nine years. This included a £5,000 donation to Reeves in 2023.

On top of this, Politico identified that Corfield had worked as a senior business adviser to the party. He did so between January 2024 and July. Of course, this was right before the Labour-run Treasury gave Corfield the role.

On Wednesday 14 August, the Guardian broke with its usual nauseating enamourment for the Labour right and actually did some useful accountability journalism. In particular, it reported how the Treasury – headed by Reeves – didn’t inform the Civil Service Commission of his links with the Labour Party.

Two words kept popping up on X:

Cronyism, and corruption, and sleaze, oh my!

Of course, we’re shocked, SHOCKED we tell you. Only, the Canary really isn’t, given our consistent coverage of Labour cosying up to corporate capitalists. Multiple people on X really weren’t surprised either:

Donation, bribe, investment, what’s really the difference? Not a lot with this terrible Tory two-some-turned political pantomine:

Though, as one person on X pointed out – quick, someone get a fundraiser going and lets all get in on this cash for access gig:

And please lets do it fast, as someone has already tipped of a certain Michelle Mone:

Reeves – chummy with the City

Ultimately, Starmer government sleaze should come as no surprise. Independent outlets – including the Canary – have routinely revealed how the party is rife with private sector interests.

Significant among these, is the party’s – and Reeves – expansive ties with the financial sector. An OpenDemocracy investigation revealed in July that:

Labour’s frontbench team, including Siddiq, has met with City lobbyists on more than 20 occasions in the past year – not counting its significant engagement with the British Private Equity and Venture Capital Association, which openDemocracy revealed last month. BlackRock, Macquarie, HSBC, Bloomberg, Lloyds, Brookfield Asset Management and Blackstone are among firms to have secured access to leading members of the new government, including Starmer, Reeves, Reynolds and the chancellor of the Duchy of Lancaster, Pat McFadden.

So, Corfield’s appointment also sits in this City-chummy environment. The OpenDemocracy report also voiced former board member at the Financial Conduct Authority Mick McAteer’s warning that:

this relationship will amount to a rehashed form of the Private Finance Initiatives (PFI) favoured by New Labour, in which private firms provide all or most of the investment to build infrastructure such as hospitals and schools, and generate profits from lucrative contracts to maintain the infrastructure long after it has been built.

Incidentally, the Canary’s James Wright wrote on Tuesday:

Labour Party chancellor Rachel Reeves is considering bringing in a type of Private Finance Initiative (PFI) to fund a new highway and tunnel across the Thames in the east of London. Instead of the taxpayer footing the bill, the government would introduce potentially indefinite user charges (tolls) to compensate private sector cost and profit. On top of that, the government may provide its own funding to ‘de-risk’ the construction investment.

Westminster cesspit of corruption

Largely then, the Corfield revelations exposed the rotten system at the heart of UK politics. Strictly speaking, Corfield’s appointment by Reeves is above board in the legal sense. As Politico detailed:

The government must meet stringent requirements when appointing senior civil servants, including holding a transparent and fair process that’s open to competition. The civil service watchdog, the Civil Service Commission, must also approve senior appointments.

But the watchdog also has an “exceptions” rule. It allows appointments to be made outside the usual process, and can apply in the case of temporary hires, secondments, or if an individual has highly specialist skills. The Civil Service Commission told POLITICO Corfield’s hire was approved under this rule.

In short, it doesn’t constitute ‘corruption’ as far as civil service procedure is concerned. That doesn’t mean it doesn’t stink of cronyism. That the new Labour government can – and has – handed a top Treasury job to a party adviser and donor illustrates corporate capture in a nutshell. That is, the Westminster political establishment are all the same at the end of the day:

Forget bubble, it’s a seething pot of political sleaze-slime. In reality, it hardly matters which Tory party shit-stirs it into existence. But thank god Reeves didn’t give the toxic Tory DWP fuck up Therese Coffey a new role in ruining the country eh? No, that’s the preserve of Labour’s mates in the City.

Hate to give Starmer the last word, but…

Feature image via Youtube – BankwestBusiness/the Guardian/the Canary





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