UK Finance Minister Rachel Reeves has criticized existing regulations in the financial sector as excessively restrictive, asserting they have hindered growth in the industry since the global financial crisis. In her recent Mansion House address, Reeves outlined plans to shift the focus of regulations from risk aversion to fostering growth, emphasizing a need for reforms in capital markets, fintech, and sustainable finance. She announced the forthcoming Financial Services Growth and Competitiveness Strategy, aimed at solidifying the UK’s status as a leading global financial center. Reeves also highlighted initiatives to reduce operational costs for finance firms and stimulate investment in underfunded British companies.
