UK banking rules set for biggest shake-up in 30 years as Jeremy Hunt axes EU red tape

Jeremy Hunt has announced plans to reform the UK financial sector, in what would be the biggest shake-up of its kind in more than 30 years.

The package of more than 30 regulatory changes - known as the "Edinburgh Reforms" - will replace EU regulation and "cut red tape" following Brexit.

The Chancellor said the new measures will "turbocharge" growth in towns and cities across the UK.