Arab Press

بالشعب و للشعب
Friday, Aug 01, 2025

Britain to lay out financial reforms to turbocharge’ growth

Britain to lay out financial reforms to turbocharge’ growth

Britain will set out reforms on Friday to ease bank capital rules, one of 30 measures the government says will unlock investment and secure its position as the world’s “foremost financial center”.
“Leaving the EU gives us a golden opportunity to reshape our regulatory regime and unleash the full potential of our formidable financial services sector,” finance minister Jeremy Hunt said in a statement on Thursday ahead of the announcement.

The reforms which Hunt said will “turbocharge” growth in the face of recession and a cost of living crisis, take advantage of Britain’s European Union exit to tailor its own rules.

Now dubbed the “Edinburgh Reforms”, the proposed reset had been trailed as “Big Bang 2.0”, a reference to the 1980s share trading overhaul, raising expectations of a big deregulatory push which left banks fearing costly systems changes.

Britain’s Finance Ministry said on Thursday it wants proportionate rules based on best international practice that balance burden on business with protection for consumers.

The reforms include releasing banks without major investment activities from rules requiring them to “ringfence” their retail arms with a bespoke cushion of capital, it said. They follow recommendations from a government-backed review.

Banks have lobbied to either scrap the rule or significantly raise the deposits threshold which triggers the requirement.

There will be a plan to “rigorously review, repeal and replace” EU regulations ranging from disclosure for financial products, listing requirements and prudential rules for banks.

London has been largely cut off from the EU by Brexit, putting pressure on the government after Amsterdam overtook the British capital to become Europe’s top share trading center.

The EU is also updating financial rules to deepen its own capital market and reduce remaining reliance on London.

Britain has already set out initial reforms in its financial services and markets bill being approved in parliament.

Scrapping a cap on banker bonuses and easing capital rules for insurers had already been announced, with a public consultation on regulating crypto assets also flagged.

Hunt is also expected to issue a “new mandate” to regulators on how they will help deliver growth and promote the financial sector’s international competitiveness.

Bank of England director Phil Evans said on Wednesday that being a global financial center confers an array of benefits on the British economy, but also responsibilities such as resisting pressure to “cut standards in the short term”.
Newsletter

Related Articles

Arab Press
0:00
0:00
Close
IMF Upgrades Global Growth Forecast as Weaker Dollar Supports Outlook
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
UN's Top Court Declares Environmental Protection a Legal Obligation Under International Law
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
President Trump Diagnosed with Chronic Venous Insufficiency After Leg Swelling
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
Iranian President Reportedly Injured During Israeli Strike on Secret Facility
Kurdistan Workers Party Takes Symbolic Step Towards Peace in Northern Iraq
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
AI Raises Alarms Over Long-Term Job Security
Russia Formally Recognizes Taliban Government in Afghanistan
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
Mediators Edge Closer to Israel-Hamas Ceasefire Agreement
Germany Seeks Taliban Deal to Deport Afghan Migrants
Emirates Airline Expands Market Share with New $20 Million Campaign
Robots Compete in Football Tournament in China Amid Injuries
China Unveils Miniature Insect-Like Surveillance Drone
Marc Marquez Claims Victory at Dutch Grand Prix Amidst Family Misfortune
Iran Executes Alleged Israeli Spies and Arrests Hundreds Amid Post-War Crackdown
Trump Asserts Readiness for Further Strikes on Iran Amid Nuclear Tensions
Qatar Airways Clears Backlog of Passengers Following Missile Threats
Iran's Parliament Votes to Suspend Cooperation with Nuclear Watchdog
Trump Announces Upcoming US-Iran Meeting Amid Controversial Airstrikes
Trump Moves to Reshape Middle East Following Israel-Iran Conflict
NATO Leaders Endorse Plan for Increased Defence Spending
U.S. Crude Oil Prices Drop Below $65 Amid Market Volatility
“You Have 12 Hours to Flee”: Israeli Threat Campaign Targets Surviving Iranian Officials
Oman Set to Introduce Personal Income Tax, First in Gulf
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Trump Praises Iran’s ‘Very Weak’ Response After U.S. Strikes and Presses Israel to Pursue Peace
WATCH: Israeli forces show the aftermath of a massive airstrike at Iran's Isfahan nuclear site
We have new information and breaking details to share about what is shaping up to be a historic air campaign tonight
Six Massive Bombs Dropped on Fordow; Trump: 'A Historic Moment for the U.S., Israel, and the World'
Fordow: Deeply Buried Iranian Enrichment Site in U.S.–Israel Crosshairs
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Pakistan to nominate Trump for Nobel Peace Prize.
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
G7 Leaders Fail to Reach Consensus on Key Global Issues
Mass exodus in Tehran as millions try to flee following Trump’s evacuation order
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
×