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Evening Standard

Business

Henry Saker-Clark

Bank governor warns of risks of cutting regulation in bid for growth

Andrew Bailey Rachel Reeves Amsterdam

Andrew Bailey has cautioned over the risks of removing financial regulation in a bid to drive to growth (Jordan Pettitt/PA) - (PA Wire)

The governor of the Bank of England has cautioned over the risks of removing financial regulation in a bid to drive to growth, amid efforts by the Chancellor to scrap red tape.

Andrew Bailey said in a speech in Amsterdam that he can see evidence there is a “risk of history showing signs of repeating itself” amid calls for deregulation as memories fade regarding the financial crisis.

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