Chancellor launches financial sector reforms
Winner of the “Best Cloud Accounting Firm 2016” award

Chancellor of the Exchequer Jeremy Hunt is set to unveil over 30 regulatory reforms to the UK's financial sector, the government has announced.

The Chancellor will set out plans to repeal, and replace, EU retained laws governing financial services.

Mr Hunt says these reforms will unlock investment and turbocharge growth in towns and cities across the UK.

The plans included a commitment to make substantial legislative progress over the course of 2023 on repealing and replacing Solvency II – the rules governing insurers balance sheets.

As announced in the Autumn Statement, the government will look to announce changes to EU regulations in four other high growth industries by the end of 2023, including digital technology, life sciences, green industries and advanced manufacturing.

Chancellor of the Exchequer, Jeremy Hunt said:

'We are committed to securing the UK's status as one of the most open, dynamic and competitive financial services hubs in the world.

'The Edinburgh Reforms seize on our Brexit freedoms to deliver an agile and home-grown regulatory regime that works in the interest of British people and our businesses.'

Internet link: HM Treasury

Get in touch

Why not drop us a line or fill in our very quick enquiry form

Address

Oculus Accountancy, 83 Victoria Street, London SW1H 0HW

Phone

020 3950 1170

Image Captcha
Enter the numbers above

Home | Contact us | Site map | Accessibility | Disclaimer | Help |

© 2023 Oculus Accountancy. All rights reserved. Banner images designed by Freepik

We use cookies on this website, you can find more information about cookies here.