Today’s Telegraph24 Sep 2022 16:44
Equally important, given the Bank of England’s nervousness about capital rules being loosened too much, the ABI concluded “the UK will still be one of the most highly regulated sectors in the world” and have “enough capital to withstand a one-in-200 year shock”.
So why the wait? There is a wall of money tied up in financial giants such as Legal & General and Aviva waiting to be poured into thousands of promising start-ups, and scores of home-grown green energy projects.
If the Government is serious about wanting to make sure more long-term investment comes from Britain directly as well as from overseas, then sweeping away the nonsensical red tape that ties the hands of swathes of this country’s financial sector is by far the best way to do it.
Mr Kwarteng raised hopes with assurances that further City reforms are on their way this autumn. More than six years after the Brexit referendum and two years until the next general election he has little time to waste.