UK Labour Party manifesto pledges for financial services industry
Labour now have the big majority the polls predicted and as ever a change in government provokes both caution and hope among the investment community as it considers how it might be impacted by a change in government policy. It is early days for the new government but we do have the pledges in Labour's manifesto to review to understand their approach to financial services. Let's run through them. Pledge 1. "Deliver inclusive growth of the UK’s financial services sector by scalling regional financial centres alongside established hubs in London and Edinburgh and unlocking the full potential of the mutuals sector." If we ignore the spelling mistake, this is similar in principle to what the Conservatives called 'levelling up' and may provide local opportunities for growth. Pledge 2. "Enhance the international competitiveness of the UK’s financial services sector by pursuing a more joined up and innovation-centred approach to regulation and supervision, ...