Speculators have launched a £7billion attack on the pound just as Chancellor John Healey puts the finishing touches to his maiden Budget, The Mail on Sunday can reveal.
In what the Conservatives branded a ‘complete lack of faith in Labour’s economic policies’, traders have placed their biggest bet against sterling in nearly a decade, official figures show.
The news comes after Mr Healey was rebuked by the International Monetary Fund, which met in Thailand this week, for planning to hit banks with a windfall tax instead of cutting the welfare bill.
Bank bosses have warned that any such raid on their bumper profits
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