Jeremy Hunt launches post-Brexit plan to rip up EU banking red tape

Brussels’ rules ‘choking’ economic growth, claims chancellor – vowing to ‘seize Brexit freedoms’

Jeremy Hunt has launched a series of major reform of the UK’s banking industry, announcing plans to rip up red tape and ditch reams of EU regulations.

The chancellor said the Rishi Sunak government has a “golden opportunity” to use Brexit to reshape the financial sector, claiming Brussels’ rules were “choking” Britain’s economic growth.

Mr Hunt is setting out a package of more than 30 major regulatory reforms in Edinburgh on Friday, vowing to “review, repeal and replace” hundreds of pages of EU regulations.