Rachel Reeves fightback to woo the City: I’ll ease banking regulations

In a speech at Mansion House, Rachel Reeves will address the City, acknowledging that post-2008 banking restrictions were excessive, as she aims to rebuild trust by promising to relax banking regulations. Her proposal to create pension megafunds, hoping to unlock £80bn for UK businesses and infrastructure, is part of her strategy to boost economic growth, a key focus of Labour’s manifesto. Reeves’s Budget, with £70bn in spending increases and £40bn in tax rises, has faced scrutiny over its seriousness about economic growth, prompting her to take steps to address concerns and win back support from the business community.

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