The chancellor has been cosseting City lenders to fuel economic growth but studies show UK plc would be better served by trying to keep them in check
Back-slapping bankers will be thick on the ground in the Swiss ski resort of Davos this week, as Rachel Reeves flies in to mix with the global elite. But she might be wise to treat the finance bros with a certain froideur.
That has not been Labour’s approach thus far: Reeves spared the banks from a windfall tax in her 26 November budget, and the UK’s regulators have just loosened capital rules, for the first time since the financial crisis.
Continue reading…The chancellor has been cosseting City lenders to fuel economic growth but studies show UK plc would be better served by trying to keep them in checkBack-slapping bankers will be thick on the ground in the Swiss ski resort of Davos this week, as Rachel Reeves flies in to mix with the global elite. But she might be wise to treat the finance bros with a certain froideur.That has not been Labour’s approach thus far: Reeves spared the banks from a windfall tax in her 26 November budget, and the UK’s regulators have just loosened capital rules, for the first time since the financial crisis. Continue reading…
