Reeves Unveils Ambitious Financial Reform Plan

British finance minister Rachel Reeves is pushing for reforms to encourage investment in company shares, ease mortgage access, and streamline banking regulations. The aim is to bolster the UK's financial sector and economy. A focus on retail investment growth and regulatory simplification is central to the plan.

British finance minister Rachel Reeves announced a series of reforms on Tuesday aimed at invigorating the financial services sector and boosting the economy. The strategy includes encouraging more savers to invest in company shares and reducing regulatory oversight.

Reeves outlined plans to simplify the process of accessing mortgages and reduce capital requirements for banks. By doubling down on global strengths, the UK hopes to lead in the global financial race.

The Financial Conduct Authority will allow banks to notify customers of investment opportunities, and a promotional campaign for share investments will be launched. This is part of a broader effort to enhance retail investment, which is currently the lowest among the G7 countries.

(With inputs from agencies.)