Jeremy Hunt is due to unveil a 30-point package of City policy changes on Friday that will involve rowing back on regulations in order to boost competition and growth.
The chancellor’s announcement, referred to as the “Edinburgh reforms”, will outline how the government intends to “review, repeal and replace” a host of rules that were introduced to protect savers and the taxpayer after the 2008 financial crisis, but which ministers now believe risk hindering the success of London’s banks and insurers compared with their overseas peers.
