Labour Rules Out Reinstating Bankers' Bonus Cap and Pledges to Cut Financial Regulations

Despite Pressure from Private Equity Industry, Labour Plans to Close £500m Tax Loophole

• Shadow Chancellor Rachel Reeves has ruled out reinstating the cap on bankers' bonuses, stating that Labour has no intention of bringing it back.
• Labour has pledged to cut down 10,000 pages of regulations in the financial sector and ruled out a windfall tax on bank profits.
• Despite lobbying from the private equity industry, Reeves plans to close a £500m tax loophole benefiting Britain’s private equity executives.
• Labour aims to harness the strengths of the financial sector, which it claims the Conservative party has taken for granted.
• Labour plans to establish a 'Regulatory Innovation Office' to help regulators share data and monitor the watchdog's work.

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