Exclusive: Labour Demands Answers From Rishi Sunak Over His Role In Deal At Heart Of Financial Crash

Labour has demanded Rishi Sunak explain the role he played in a hedge fund involved in a deal at the heart of the 2008 financial crash.

The prime minister was a partner at TCI, which reportedly launched a campaign against Dutch bank ABN Amro which resulted in its sale to the Royal Bank of Scotland in 2007.

On Monday, Labour launched a video featuring comedian Jon Richardson sitting in a bubble bath which claimed Sunak personally profited from the deal, which ultimately led to the government having to bail out RBS to stop it going bust.

He said: “Rishi Sunak was one of those bankers who made millions from a deal that helped trigger the financial crash, and all at the expense of the British taxpayer.”

Darren Jones, the shadow chief secretary to the Treasury, has also written to Sunak with a list of 10 questions on his role in the ABN-Amro/RBS deal.

They include what he knew about it, how much money he personally made and whether he “feels regret” about what happened.

In his letter, which has been seen by HuffPost UK, Jones said: “You profited from those dealings, walked away with millions and moved to California, while the British people suffered the fallout of the crash.”

He added: “You became prime minister without even being subject to a vote of your own party members. You are seeking election in your own right. It is only right and proper that you address these questions with the honesty that the British people deserve.”

A Conservative Party spokesperson said: “This is not correct. This video is a deeply sinister and misleading piece of Labour Party propaganda that reveals their anti-business colours.

“It exposes the risk that Labour would end up just imposing punitive tax rises on business that will damage our economy, making people less financially secure as they always do.”