Rachel from Accounts is set to deliver her Mansion House ‘big bang’ speech tonight at 9 p.m., with the Treasury touting her “Leeds reforms” as the biggest overhaul of financial regulation since the 2008 crash. Expect more mortgages available at over 4.5 times a buyer’s income, plus a permanent government-backed mortgage guarantee scheme. Reeves is banking on this helping 10,000 first-time buyers every year…
She’s also ditching the much-hated plan to cut the cash ISA allowance. Reeves claims these tweaks to financial regulation will create “a ripple effect that will drive investment in all sectors of our economy and put pounds in the pockets of working people.” With the government ruled by backbenchers and these reforms being relatively modest, don’t expect them to cause much of an impact…
Sarah Pochin at Reform Scotland’s manifesto launch event: “I really wanted to come on in a Reform tartan burka, but apparently I wasn’t allowed… One day let’s do one of these events not live-streamed. We’ll do all the naughty stuff…”