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UK Labour Party’s Reform Agenda: Financial Services

Initiatives of the UK's Labour administration targeting financial services regulation, following its general election victory and formation of government. Finance minister Rachel Reeves has instructed financial regulators to boost economic growth and cut red tape. The move has been welcomed by the industry. The Financial Conduct Authority has said it will support the government's agenda, but repeatedly asked for tolerable failure metrics to understand how far it can go when cutting red tape. The Prudential Regulation Authority also said it would support the government's agenda, but repeatedly emphasized that financial stability is its primary objective.

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