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Chancellor meets FCA as ‘radical plan to cut red tape’ announced

By 2025-03-17T13:00:00

rachel reeves chancellor

’Appropriate regulation of our financial services is essential to a well-functioning system, but it must also be proportionate if it’s going to encourage the innovation, investment and growth our customers and economy need,’ says ABI director

UK Chancellor of the Exchequer Rachel Reeves met with the head of the FCA and other UK regulators this morning (17 March 2025) as the government announced a “radical action plan to cut red tape and kickstart growth”. 

A government statement explained that the meeting would focus on the Labour government’s pledge to cut the administrative cost of regulation on businesses by a quarter. 

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