The Chancellor Kwasi Kwarteng is facing calls for an official inquiry following a report that he attended a private champagne reception with hedge fund managers who stood to gain from a collapse in sterling following his mini-budget
A report in the Sunday Times reveals that the chancellor also gave guests insights about forthcoming government spending cuts during the event, which took place at the Chelsea home of Andrew Law, a financier and Conservative Party donor, on the evening of Friday, September 23.
“After the reception on Friday, at least two prominent hedge fund bosses told City associates that Kwarteng was “a useful idiot”. A senior Tory who advises business leaders said the phrase was in widespread circulation.” said the paper
