Chancellor Reeves Proposes Major Financial Reforms to Boost UK Growth
Rachel Reeves aims to loosen post-crash regulations and create pension megafunds to stimulate investment and economic expansion.
- Reeves plans to relax regulations on bankers' bonuses, reducing the deferral period from eight to five years to retain talent in the UK.
- The creation of pension megafunds is intended to consolidate local government pension schemes, potentially unlocking £80 billion for infrastructure investment.
- Critics express concern that Reeves's pension reforms could prioritize national projects over secure returns for pensioners.
- Bank of England Governor Andrew Bailey supports stronger UK-EU trade ties to counter Brexit's impact on the economy.
- Reeves is facing mixed reactions from the business sector, with some leaders welcoming deregulation while others worry about increased burdens from tax and wage reforms.
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