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CX Outlines City Reforms; Public Sec Pay Restraint Needed To Tame Inflation

UK

Chancellor of the Exchequer has outlined a number of reforms intended to boost the UK's financial services sector. The so-called 'Edinburgh Reforms' are being touted as the most significant change in financial sector regulations since the 'Big Bang' deregulation of the 1980s.

  • One of the major changes outlined is a reform of the ring-fencing regime for banking operations, introduced after the 2008 financial crisis. In an effort to stave off accusations of raising risks of another crisis, Hunt states that "We have to make sure we don't unlearn the lessons of the 2008 global financial crisis.
  • Hunt states that he is 'a very big fan' of the UK's regulatory structures.
  • On the separate subject of public sector pay in light of significant industrial action taking place this month, Hunt states that public sector pay restraint is required to tame the UK's high rate of inflation. Workers on the railways, postal service, paramedics, and nurses are among the number of public sector groups striking this month over pay.
Homepagemarkets-real-timePolitical Market NewsPolitical RiskPolitical Risk BulletBank Of England (BOE) Market NewsBulletUKMarketsFixed Income BulletsForeign Exchange Bullets
Homepagemarkets-real-timePolitical Market NewsPolitical RiskPolitical Risk BulletBank Of England (BOE) Market NewsBulletUKMarketsFixed Income BulletsForeign Exchange Bullets

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