Chancellor Rachel Reeves unveiled the most extensive package of financial services reforms for over a decade in her Mansion House speech last week, in a move described by the Treasury as a “rewiring” of the UK’s financial system. The so-called Leeds Reforms focus on deregulating financial services, boosting housing access through a loosening of mortgage affordability, and promoting retail investment and capital markets. The government says the reforms are designed to boost innovation, increase competitiveness and make UK markets and investments more attractive globally.
Shaun Wood, Managing Director and Chief Investment Officer at Simpson Wood Financial Services Ltd, says he largely welcomes the reforms and that it is “encouraging to see Reeves finally listening to City lobbyists on tackling our listing and overall capital markets issues,” but that more needs to be done to bring the European exchanges together and better compete with the US. “We shouldn’t take our...