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City of London

UK Government Unveils Plans to Boost City of London’s Growth

  • Finance bill to cut European Union rules for Brexit benefit
  • Lawmakers to get power to challenge regulators’ decisions
Pedestrians in the City of London.

Pedestrians in the City of London.

Photographer: Hollie Adams/Bloomberg

The UK government will be able to force regulators to review their decisions under powers introduced in legislation intended to boost the international competitiveness of the City of London.

Financial watchdogs could be ordered to consider changing their positions, but ministers will not be able to force them to change, according to the Financial Services and Markets Bill published on Wednesday.