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Rachel Reeves pledges to ‘rip up red tape' in bid to help the City kick-start economic growth
Rachel Reeves pledges to ‘rip up red tape' in bid to help the City kick-start economic growth

The Sun

time4 days ago

  • Business
  • The Sun

Rachel Reeves pledges to ‘rip up red tape' in bid to help the City kick-start economic growth

RACHEL Reeves will attempt to claw back credibility with business tonight by talking up Britain as a place of 'hope and opportunity'. The Chancellor will announce red tape will be ripped up to help the City kick-start economic growth and investment. It comes after months of doom and gloom with the £25billion National Insurance tax raid and low confidence among business chiefs. In her Mansion House speech, she will say: 'This is the foundation of an economy, and a country, that is more active and more confident. 'Where people and businesses look to the future and talk about hope, about opportunity, assured of their own capability, and the ability of our country to boldly face challenges ahead. "And certain of the prize if they succeed. 'Of higher wages and higher living standards. The renewal of Britain in every home and high street. To put it simply: a Britain that is better off.' Ms Reeves will tell the City that she will put financial services 'at the heart' of the Government's growth mission. She said it would have 'a ripple effect that will drive investment in all sectors of our economy and put pounds in the pockets of working ­people.' Ms Reeves will meet finance executives today to announce the biggest set of reforms, the Leeds Reforms, for the sector in a decade. Meanwhile, first-time buyers will find mortgages available from banks and building societies at more than 4.5 times their income — which will create up to 36,000 additional home loans in the first year. Treasury Minister Darren Jones yesterday said Labour's 'working people' tax pledge refers to 'anyone that gets a payslip' — as the party's muddle over who will be protected at the budget continued. Rachel Reeves FINALLY addresses Commons tears after she and Keir Starmer put on awkward show of unity 1

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