Labour’s economic safety net: a new audit regulator and no more bank bailouts

Quick Summary:

But in a nod to the new government’s vow to boost economic growth, the law is expected to trim the number of rules that apply to smaller “public interest entities”.

The legislative package will also contain previously announced plans to set up a £7.3bn national wealth fund to invest in green technologies with the aim of “crowding in” an additional £20bn of investment from the private sector.

The government will also plough ahead with plans to introduce a so-called lock that would ensure big fiscal packages must always be accompanied by an assessment from the Office for Budget Responsibility.

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Article Details

Author / Journalist: Sam Fleming

Category: MarketsFinanceInvesting

Markets: United States

Topics: Rules Audit Labour Bill Measures Government Regulator Plans Bank Financial Sector

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-17 @ 11:28:15 (14 hours ago)

News Timezone: GMT -5:00

News Source URL: ft.com

Language: English

Article Length: 641 words

Reading Time: 4 minutes read

Sentences: 23 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Financial Times

News ID: 21663919

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Official Website: ft.com

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