A mural in Belfast shows the two candidates for the Conservative party leadership, Rishi Sunak and Liz Truss.
(Photo: dpa)
London The City of London may be facing a new “Big Bang” of deregulation. The two candidates for the successor to British Prime Minister Boris Johnson want to relax the financial rules that date back to the time of EU membership and, if necessary, overrule the actually independent supervisory authorities.
Liz Truss, British Foreign Secretary and candidate for the Conservative Party leadership and thus for the post of Prime Minister, lamented in a recent speech to representatives of the London financial district: “We have not moved fast enough to reap the full benefits of Brexit.” As Prime Minister, she will “unleash investment and boost economic growth across the country.”
Her rival Rishi Sunak, recalling Margaret Thatcher’s great deregulation bang in 1986, speaks openly of a “Big Bang 2.0” and announced: “We will end the EU system in which the last power lies with faceless regulators, and this power entrusted to our sovereign parliament.”
Read on now
Get access to this and every other article in the
Web and in our app free of charge for 4 weeks.
Continue
Read on now
Get access to this and every other article in the
Web and in our app free of charge for 4 weeks.
Continue