Britain's new government under Prime Minister Andy Burnham intends to preserve the previous administration's pro-growth approach to the financial services sector including regulation, according to a person familiar with the matter.
The government will keep pushing the Financial Services Growth and Competitiveness Strategy — the pro-City agenda set out by Keir Starmer's team — and a reform bill making its way through parliament, the person said.
Shifting the emphasis of financial services regulation towards encouraging economic growth rather than simply containing risk was a key policy of former finance minister Rachel Reeves.
