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Rachel Reeves explains why Labour will not re-instate cap on bankers' bonuses – video

TheGuardian

The shadow chancellor, Rachel Reeves, says Labour would not reinstate a cap on bankers' bonuses, to ensure stability for businesses operating in the UK.

Video 54
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UK MPs Urge Audit Legislation To Avoid High-Profile Collapses

PYMNTS

Political pressure can and does draw attention to faults and flaws, but without regulators with the powers and resources they need, lasting cultural change will not happen,” said MP Rachel Reeves in a letter sent to business secretary Andrea Leadsom, according to reports.

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Frustration in Labour ranks over Reeves’s refusal to reinstate bankers’ bonus cap

TheGuardian

Shadow chancellor is warned that decision will be unpopular with voters, including those in ‘red wall’ seats Senior Labour figures have been left annoyed and perplexed by Rachel Reeves’s surprise announcement that the party will not reinstate a cap on bankers’ bonuses if it wins the next election.

Industry 107
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Labour has no intention of reinstating cap on bankers’ bonuses, says Reeves

TheGuardian

Rachel Reeves said she had “no intention” of bringing back the cap, saying she wanted to be the “champion of a thriving financial services industry”.

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Labour rules out raising corporation tax above 25% in next parliament

TheGuardian

Shadow chancellor Rachel Reeves unveils raft of measures at business summit aimed at boosting investment, productivity and certainty Labour will not raise corporation tax above its current rate of 25% during the next parliament, the party has pledged, in an attempt to offer businesses greater certainty.

Taxes 105
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The Guardian view on Labour’s big idea: organising the state effectively matters for jobs and growth | Editorial

TheGuardian

Rachel Reeves missed a chance to recast a policy that cuts government spending while shovelling state cash into private banks The Labour party has in mind new institutions that will capitalise future-facing industries, create good jobs and see Britain catch up with its peers. That is one message from Rachel Reeves’s speech.

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UK working on cash lifeline for tech firms hit by Silicon Valley Bank collapse

TheGuardian

Jeremy Hunt announces move after meetings with Rishi Sunak and Bank of England governor over ‘high priority’ issue The UK government is drawing up plans for an emergency cash lifeline for tech firms hit by the collapse of Silicon Valley Bank UK (SVB UK), as the chancellor warned the sector was at “serious risk”.

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