Rachel Reeves wants to deregulate finance - again

Rachel Reeves' Mansion House speech announced another round of deregulation for the City. It won't boost growth, but it will probably make some Labour donors very rich.

Rachel Reeves thinks that the regulation imposed on the UK financial sector in the wake of the Great Financial Crisis has ‘gone too far’.

She described the UK finance sector as the ‘crown jewel’ of the UK economy and argued that its potential had been hemmed in by unnecessary regulation since 2008. Reeves pledged to reform financial regulation, arguing t…