Reeves Looks to Woo Bankers Wary of a Labour UK Takeover
An incoming government will have to cut spending, raise taxes or borrow more. The finance sector is worried about what that could mean for it.
Photographer: Ben Stansall/AFP/Getty Images
Jeremy Hunt is due to use a high-profile speech to the financial community on July 11 to unveil a raft of City reforms to stem the flow of home-grown tech and fintech talent from listing overseas. But if opinion polls are correct, that Mansion House speech is now likely to be given by Rachel Reeves, expected to be Hunt’s successor as UK chancellor, if the opposition Labour Party wins the July 4 election.
What she tells that audience could define the relationship between an incoming Labour government and the finance sector — which contributes 12% to economic output — for some time to come.