Will Hunt’s ‘Brexit freedoms’ kickstart Britain’s economy?
Coffee House Shots
The Spectator
4.4 • 2.2K Ratings
🗓️ 9 December 2022
⏱️ 11 minutes
🧾️ Download transcript
Summary
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Transcript
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| 0:00.0 | The Spectator magazine combines incisive political analysis with books and arts reviews |
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| 0:20.3 | forward slash voucher. |
| 0:30.0 | Join today by Katie Bulls and Kate Andrews and let me begin at the start by saying we are |
| 0:35.2 | broadcasting just next to where the postal worker strike is going on. So a nice bit of background |
| 0:40.8 | colour for the recording. But today we're discussing the planned proposals by Jeremy Hunt to |
| 0:45.7 | reform the banking system and the regulations under which City of London operates. Kate talk us |
| 0:50.6 | through his so-called Edinburgh reforms. The Edinburgh reforms are roughly 30 regulatory reforms. |
| 0:57.4 | Some is changing these regulations. Some is repealing them altogether. And the idea behind them is |
| 1:01.9 | that they're going to unlock money that would otherwise be spent on regulation and making |
| 1:06.1 | sure everything's in check. Which will hopefully ideally create a situation in which more private |
| 1:10.8 | sector investment can flow into the economy, get things built, get things started and crucially |
| 1:15.2 | get economic growth up. The really big one here is solvency too. And I don't want to get too |
| 1:19.9 | technical. Nobody wants to get too technical about solvency too. But you know it's actually it |
| 1:24.7 | became a bit of a talking point especially during the Brexit years because Brexit years pointed |
| 1:28.8 | to this you know technical point and financial services rules about how much liquidity insurance |
| 1:33.2 | companies had to have and say actually you know this is eating up a lot of cash. This is the kind |
| 1:37.2 | of thing we can change when we leave the European Union and he has announced he is going to repeal it. |
| 1:42.0 | So the government is taking opportunity to use the phrase Brexit freedom and they're also taking |
| 1:47.8 | the opportunity to point to some kind of growth agenda. And I spoke to the city minister Andrew Griffith |
| 1:52.4 | this morning who you know was very bullish about this very excited to be announcing these reforms |
... |
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