Rules imposed after financial crisis have ‘gone too far’, Reeves tells City bankers

Rachel Reeves called the financial services sector the ‘crown jewel’ of the UK economy. Photograph: Jordan Pettitt/PA

Rachel Reeves has told City bankers attending her Mansion House speech that regulations put in place to protect the economy after the global financial crisis had “gone too far”.

Speaking at the glitzy annual gathering in the Square Mile on Thursday, the chancellor called the financial services sector the “crown jewel” of the UK economy.