Skip to main content
Banks need more regulation, not less
Labour’s ex-banker Chancellor plans deregulation while City profits soar and customers suffer — between money laundering scandals and the exploitation of Covid loans, it’s clearly time to end this madness, says BERNIE EVANS
Chancellor of the Exchequer Rachel Reeves at the Confederation of British Industry (CBI) conference at the QEII Centre, London, November 25, 2024

THE government seems intent on liberalising financial sector regulations, obviously because ex-banker Rachel Reeves has an overinflated view of the banking industry.

Regarding the City as the “crown jewel in our economy” seems ridiculous when the role banks play in our economy is actually analysed.

As for deregulating, recent events in the City would suggest more rather than less regulation is needed.

The 95th Anniversary Appeal
Support the Morning Star
You have reached the free limit.
Subscribe to continue reading.
Similar stories
The skyline of Canary Wharf in London as the cold snap continues to grip much of the nation, February 14, 2021
Inequality / 14 July 2026
14 July 2026

Trade unions call for windfall tax hike to fund social energy tariff to public’s energy bills

Prime Minister Sir Keir Starmer tours Palantir Technologies headquarters with company employees and British military personnel in Washington DC, February 27, 2025
Politics / 4 July 2026
4 July 2026

Only an ambitious programme of state-led investment can restore growth and improve living standards, argues MICHAEL BURKE

Barclays, Sheffield
Britain / 20 October 2025
20 October 2025
Positive Money, Tax Justice UK, Equality Trust and Green New Deal Rising activists protest outside the Bank of England, August 7, 2025
Labour Austerity / 7 August 2025
7 August 2025