Why financial services are becoming just like the gas board

The UK financial services industry might like to see itself as a dynamic and entrepreneurial growth ...

The UK financial services industry might like to see itself as a dynamic and entrepreneurial growth sector but in reality it is becoming a utility. There is bad and good news that stems from this. The bad news is levels of regulation are not going to diminish but the good news is the industry has a captive audience. Why is UK financial services a utility? The answer is buried none too deep in the recent Treasury Select Committee report. This makes it clear that the long-term savings industry has social utility: investments provide the money needed to power and develop the economy and als...