Reeves Warns City Bankers That Regulatory Measures Implemented After Financial Crisis Are Overreaching

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November 14, 2024

Reeves Warns City Bankers That Regulatory Measures Implemented After Financial Crisis Are Overreaching

In her recent Mansion House speech, Chancellor Rachel Reeves expressed concern that post-financial crisis regulations have “gone too far,” arguing they have created an environment that stifles risk-taking in the City of London. She identified the financial sector as the “crown jewel” of the UK economy and emphasized the need to revisit regulatory measures that were enacted following the 2007-8 crash. While acknowledging the necessity of reforms, Reeves advocated for a more balanced approach that prioritizes both growth and financial stability. She proposed easing certain constraints on financial institutions and fostering private investment, including plans for a significant merger of public sector pension funds to support infrastructure projects. Additionally, Bank of England Governor Andrew Bailey highlighted the importance of free trade amidst growing international tensions.

Original source:

https://www.theguardian.com/business/2024/nov/14/rules-imposed-after-financial-crisis-have-gone-too-far-reeves-tells-city-bankers

Reeves Warns City Bankers That Regulatory Measures Implemented After Financial Crisis Are Overreaching

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