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Kemi Badenoch to set out plans to slash City red tape
She says scrapping the Financial Services Ombudsman and easing bank capital rules could free up £450 billion for investment.
- On Thursday, Kemi Badenoch will speak at the CityUK annual conference, arguing that excessive red tape has fostered a risk-averse culture within Britain's financial industries.
- For nearly 20 years, Government has pursued a zero-risk environment, treating the City as a problem to be managed rather than an asset to be championed.
- Mrs Badenoch plans to scrap the Financial Service Ombudsman and abolish ring-fencing rules, while adjusting bank capital requirements to release £450 billion for investment.
- Freeing the City from regulatory constraints aims to boost growth across Britain, with The Conservatives arguing that eliminating risk also eliminates opportunity, reward, and innovation.
- Decisions made after the financial crisis created this restrictive environment; this overhaul seeks to reverse that trend and address Britain's low-growth economy.
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12 Articles
12 Articles
Evening Standard+11 Reposted by 11 other sources
Kemi Badenoch to set out plans to slash City red tape
The Tory leader will call for the Financial Service Ombudsman to be replaced in a speech on Thursday.
·London, United Kingdom
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Total News Sources12
Leaning Left4Leaning Right0Center5Last UpdatedBias Distribution56% Center
Bias Distribution
- 56% of the sources are Center
56% Center
L 44%
C 56%
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