Fiscal Fumble: Early Budget Leak Sparks Market Turmoil

British finance minister Rachel Reeves expressed confidence in the fiscal watchdog despite an early budget leak incident that affected markets. The Office for Budget Responsibility, chaired by Richard Hughes, was responsible for the error, prompting an investigation after a formal apology.

British finance minister Rachel Reeves voiced her trust in the country's fiscal watchdog on Thursday following an accidental early disclosure of her annual budget. The premature release resulted in market fluctuations and parliamentary unrest.

The incident involved Richard Hughes, chair of the Office for Budget Responsibility (OBR), who issued a formal apology to Reeves on Wednesday, acknowledging the mishap as a serious breach.

In regards to the error, Reeves told Sky News, "They have announced an investigation which will report to me very quickly." Despite the incident, she maintained her confidence in Hughes and the OBR's capabilities.

(With inputs from agencies.)