Chancellor’s post-Brexit City reforms risk a ‘race to the bottom’

Rishi Sunak

(Picture: Getty Images)

ChancellorJeremy Hunt has been accused of encouraging a “race to the bottom” after he unveiled ‘big bang’ plans to slash City red tape.

The sweeping package of more than 30 reforms, aimed at boosting Britain’s financial services sector and the UK’s flagging economy, is being billed by ministers as one of the big opportunities of Brexit.