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The Guardian - UK
The Guardian - UK
Business
Rowena Mason and Heather Stewart

Rishi Sunak to weaken City regulation in post-Brexit nod to Tory donors

​​Rishi Sunak Tory Brexit City European Union United Kingdom Economy
Canary Wharf banks
Singapore-on-Thames: Tory and leave donors have long advocated a lighter touch regulatory regime for the UK’s financial services. Photograph: Dan Kitwood/Getty Images

Rishi Sunak has moved to weaken regulation of financial services brought in after the 2008 crash amid fears he is aiming to make London into a post-Brexit “Singapore-on-Thames” pushed by Tory donors.

The chancellor is bringing forward a new financial services and markets bill as part of the Queen’s speech with the aim of “cutting red tape in the financial sector”.

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