Jeremy Hunt sets out sweeping reforms to financial sector

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Chancellor says plans will ensure City ‘benefits from dynamic, proportionate regulation’

The chancellor has announced plans to reform and repeal a number of City regulations, including rules originally meant to protect the UK from another financial crisis.

Jeremy Hunt’s 30-point plan was announced as he travelled to Edinburgh to meet a group of chief executives from banks and insurers, who the government hopes will be in a stronger position to grow and compete with international peers as a result of the deregulation drive.

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