Pensions review of auto-enrolment<\/strong><\/p>\nThe review, led by the Department for Work and Pensions, will explore raising auto-enrolment contributions from the current level of 8% of worker earnings, with employees currently paying in 5% and the employer adding 3%.<\/p>\n
A government spokesperson said: \u201cWe cannot pre-empt the outcome of the review, with no decision being taken relating to pension contributions.<\/p>\n
\u201cWe\u2019re reforming the pensions market to drive economic growth, ensure greater security in retirement and put more money in people\u2019s pockets.\u201d<\/p>\n
They added: \u201cOur pension schemes bill will make pension pots work harder for savers, and our forthcoming pensions review will explore how we can take this even further to give hardworking people the retirement they deserve. And thanks to our commitment to the triple lock, millions will see their state pension rise by \u00a31,900.\u201d<\/p>\n
Cutting red tape<\/strong><\/p>\nAn ally of Reeves said she will announce plans to tear up “reams of financial red tape” and that she would be “ruthless in slashing rules that make the UK uncompetitive”.<\/p>\n
That is set to include consulting on proposals to scrap the current legislation for the Certification regime, which covers almost 140,000 finance professionals.<\/p>\n
It will also explore proposals to make senior management appointments easier, reducing timelines for review by regulators from three to two months.<\/p>\n
Fiscal rules<\/strong><\/p>\nMs Reeves will stress her commitment to fiscal rules and market confidence.<\/p>\n
The Government has been looking at how to help put more money in people\u2019s pockets. Earning stronger returns on savings by encouraging investing could be one way to do this, although the value of investments can go down as well as up.<\/p>\n
The aim of a potential cut in the cash Isa allowance could have encouraged more investment in stocks and shares, some parts of the industry argued.<\/p>\n
But some savings providers also argued that any cut to the cash Isa may simply encourage savers to park their money in taxable savings accounts, rather than the stock market.<\/p>\n
Tax rises<\/strong><\/p>\nSome in the City worry that Reeves will seek to fill fiscal gaps with tax rises on banks or wealthy individuals, such as increasing the bank levy.<\/p>\nA Treasury spokesperson said: \u201cOur ambition is to ensure people\u2019s hard-earned savings are delivering the best returns and driving more investment into the UK economy.\u201d<\/p>\n
“Regulate for Growth”<\/strong><\/p>\nIn a bid to reframe the UK\u2019s approach, Ms Reeves will reaffirm her promise to change regulatory culture so it “regulates for growth”, not merely for risk.<\/p>\n
Speaking previously, Ms Reeves said: \u201cWe are taking further action to free businesses from the shackles of regulation.<\/p>\n
\u201cBy cutting red tape and creating a more effective system, we will boost investment, create jobs and put more money into working people\u2019s pockets.\u201d<\/p>\n
Cash ISA u-turn<\/strong><\/p>\nCash Isas will be left untouched at next week\u2019s Mansion House speech, in a move that has been welcomed by savings experts.<\/p>\n
Speculation had been mounting that plans to cut the annual tax-free cash Isa allowance could be announced in Chancellor Rachel Reeves\u2019s Mansion House speech on July 15.<\/p>\n
But the PA news agency understands that Ms Reeves will instead focus on new plans to provide consumers with the information and support they need to invest.<\/p>\n
The Government is expected to continue talking to industry members and others about the options for reform, with a broad consensus that the UK\u2019s savings and investment culture needs to be encouraged.<\/p>\n
Senior managers’ regime overhaul<\/strong><\/p>\nThe Treasury plans to reduce red tape and accelerate growth in the City of London by axing parts of a scheme that certifies almost 140,000 finance professionals.<\/p>\n
The senior managers and certification regime began after the 2008 financial crisis to try to make individuals more accountable for their conduct and competence, but its complexity and delays in processing applications led to complaints.<\/p>\n
Industrial strategy<\/strong><\/p>\nReeves will describe financial services as one of eight key “growth” sectors in the Government\u2019s new industrial strategy. She is expected to outline measures to boost the sector’s global competitiveness.<\/p>\n","protected":false},"excerpt":{"rendered":"Ms Reeves is to pledge a bonfire of financial services regulation as she seeks to rekindle her relationship…\n","protected":false},"author":2,"featured_media":265985,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3093],"tags":[51,474,2499,16,15,961],"class_list":{"0":"post-265984","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-business","9":"tag-finance","10":"tag-personal-finance","11":"tag-uk","12":"tag-united-kingdom","13":"tag-your-money"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114855326742757647","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/265984","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=265984"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/265984\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/265985"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=265984"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=265984"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=265984"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
![\"Eight](\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2025\/07\/0_reeves2.jpg\")
Eight announcements coming in Rachel Reeves Mansion House speech from pensions to tax<\/p>\n