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NEWS: UK finance minister tells businesses – ‘Crisis-era regulation has gone too far’

Chancellor of the Exchequer Rachel Reeves leaves 10 Downing Street, following the results of the election, in London, Britain, July 5, 2024. REUTERS/Phil Noble

BY SINEAD CRUISE

FINANCE minister Rachel Reeves has promised a reboot of regulation governing Britain’s “crown jewel” financial industry which she said has shackled the City’s global prospects since the global financial crisis and stifled UK economic growth.

According to extracts from her first Mansion House address shared with media, Reeves vowed not to take the UK’s status as a global financial centre for granted, and pledged a raft of growth-focused reforms to earn and preserve this position.

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