The chancellor will today hail a “golden opportunity” to boost Britain’s financial services industry as he sets out the government’s long-awaited plan to overhaul City rules following Brexit.
Speaking in Edinburgh today, Jeremy Hunt will announce a package of more than 30 reforms to regulations as part of an effort to bolster the UK’s position as an international centre for finance following the country’s departure from the European Union.
The Treasury will set out its plan to review and replace hundreds of pages of EU law — including a target to tackle large swathes of retained legislation by the end of next year.
Hunt has dubbed the package the “Edinburgh Reforms”, partly to reflect Britain’s dispersed financial services industry, but also to move away from the “Big Bang 2.0” rhetoric of his predecessor, Kwasi Kwarteng.
