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Analysis-‘Big Bang 2.0’ up in smoke as Britain’s finance law reforms underwhelm industry

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Reuters UK

By Huw Jones and Sinead Cruise LONDON (Reuters) – Britain’s reform of post-Brexit financial services is more about catching up with rivals than unleashing a ‘Big Bang 2.0’ as it sidesteps calls to cut taxes on banks or ease curbs on hiring foreign staff to keep London a force in global finance. Before an audience of bankers in London’s historic City financial district on Tuesday evening, UK finance minister Nadhim Zahawi set out financial services legislation that will be put before parliament on Wednesday. The long-trailed reforms were dubbed by Zahawi’s predecessor and Conservative Party lea…

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