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Business News

Bill on new financial regulation 'rushed'

The head of the Treasury Select Committee has warned that Parliament is "rushing" the Finance Bill, which will overhaul regulation of the financial services sector and hand the Chancellor powers to veto decisions made by the Bank of England.

Commenting on yesterday's Commons debate, Andrew Tyrie said: "This is rushed. The House of Lords completed its consideration of the Bill only last Wednesday. … But it still appears to fall short of what is required."