Chancellor Jeremy Hunt is unveiling a 30-point package of City policy changes on Friday that rows back on regulations to boost competition and growth.
Jeremy Hunt sets out sweeping reforms to financial sector
Jeremy Hunt’s major reform package for the UK’s financial sector is something to be “excited” about, the policy chairman at the City of London Corporation has said.
Chris Hayward denied that the move represents a regulatory “race to the bottom”, echoing Andrew Griffith’s point overnight.
“We need the help of good growth and good regulation at the same time, they are two sides of the same coin.
“It’s not a race to the bottom, in my view, it’s a chance to actually grow our economy and I think we should be very excited about it. It’s positive news for financial services.”
London’s financial reputation has been severely held back since Brexit, right at a time when the ‘powers that be’ have tried to encourage investment and growth in a big way.
Sadly, the allure simply isn’t there, with many of the UK’s brightest companies being snapped up by overseas investors, and London losing its top share-dealing status.
