Brexit 'Big Bang' set to spark Bank of England conflict - reports

‘Bailey is not too happy’

James Baxter-Derrington
clock • 1 min read

Government plans to deregulate the financial sector are set to spark a battle between politicians and the Bank of England.

Former chancellor Rishi Sunak is set to publish his so-called ‘Big Bang 2.0' on Wednesday, which would see ministers given the power to challenge regulatory decisions made by the central bank. This will be supported by current chancellor Nadhim Zahawi, while outgoing prime minister Boris Johnson is reportedly losing patience with the bank's resistance to the proposed Solvency II regime. Bank of England: Eight major risks facing UK economy The trio believes that a bonfire of regulation would create a "nimble" regime and unlock funds for investment, while BoE governor Andrew Bailey ...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Regulation

FCA searching for feedback on cryptoasset trading regulation

FCA searching for feedback on cryptoasset trading regulation

Aiming to build confidence in the sector

clock 02 May 2025 • 1 min read
SDR pause for portfolio management: sigh of relief or indefinite 'limbo'?

SDR pause for portfolio management: sigh of relief or indefinite 'limbo'?

Clarifications needed

Cristian Angeloni
clock 01 May 2025 • 3 min read
FCA on finfluencer financial harm: 'We need people to sit up and take action'

FCA on finfluencer financial harm: 'We need people to sit up and take action'

Treasury Committee questions regulator

Isabel Baxter
clock 01 May 2025 • 4 min read
Trustpilot