The boss of Barclays has hailed the chancellor for having “seized the occasion” with her inaugural Mansion House speech that set out a series of reforms to loosen City rules with the aim of bolstering economic growth.
Writing for The Times, C.S. Venkatakrishnan said that Rachel Reeves and Andrew Bailey, the Bank of England governor, had presented a “constructive and co-operative agenda that promotes the role of the financial industry” in their speeches to City grandees on Thursday night.
Reeves’s emphasis on financial services as a “crown jewel” of Britain was “an important step in promoting investment and risk-taking”, the Barclays chief, who is known as Venkat, said. “The chancellor underlined that the financial sector is a critical part of the national interest.”
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