Comment by jayflux
4 years ago
Sunak wouldn’t have anything to gain by doing that, pension crises cause the govt a headache and they’ll want to avoid it just as much. The last crises cost liz her job.
Are you sure you’re not thinking of the relaxation of ring fencing between investment banks and retail banks? That I know is more of a possibility and not related to pensions.
The Lord Mayor of the City of London, Nicholas Lyons, is a big lobbyist in favor of undoing the ring-fencing. I'm confident he'll try to get it done by the currently very friendly government of Sunak while he's in the yearly office -- he has till next November.
The relaxation for banks under a certain amount of AuM is already in the pipe -- see Lyons' recent interview with Bloomberg. I'm expecting him to push for a larger increase of the ceiling amount this year, and get it. That's why I said "further undo."
Maybe the ring-fencing will be fully removed but that won't happen this year.