Featured: Highlights from the Chancellor of the Exchequer's first Mansion House speech 18 November 2024 View in browser WEEKLY BULLETIN
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Chancellor delivers Mansion House speech
The Chancellor of the Exchequer Rachel Reeves delivered her first Mansion House speech on the evening of Thursday 14 November 2024, in it, she:
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Emphasised the importance of growth and competitiveness in the financial services sector, highlighting the sector's role as a "crown jewel" of the UK economy.
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Announced plans to focus on private investment, sustainable finance, and asset management.
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Reiterated the government's commitment to regulatory reform, aiming to make the financial sector more dynamic and reduce administrative burdens.
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Outlined the creation of "mega funds" from pension funds to drive economic growth. These will be legislated for in 2025 through the Pensions Schemes Bill.
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Set out the government’s agenda to enhance operational resilience and support innovation in the financial services.
Call for Input: Modernising the Redress System Following the speech, the Financial Conduct Authority (FCA) and the Financial Ombudsman Scheme (FOS) have published a joint call for input. This call for input seeks views on:
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The problems that mass redress events and the redress scheme cause firms, consumers and their representatives.