Chancellor Rachel Reeves’ dramatic Leeds Reforms, unveiled in Leeds and followed by her Mansion House speech on 15 July 2025, could mark the most comprehensive overhaul of the UK financial regulatory landscape in over a decade (GOV.UK). But, the Chancellor needs to get the balance right in cutting red tape and managing inherent risks. As the FT writes; ' This is particularly important for her plans to reform the senior managers’ regime, the Financial Ombudsman Service — an arbiter of complaints between consumers and the industry — and ring fencing rules that force banks to separate their retail and investment banking activities. Some measures could also backfire. An initiative to enable banks to extend mortgages to individuals on lower incomes, however well meaning, risks pushing UK house prices even higher as housebuilding continues to drag.' (FT)
