The Chancellor has told the financial industry that it will have to change the “negative” story around the savers investing money in shares and shares to help them grow the economy.
In a speech, Rachel Reeves said: “For a very long time, we have introduced the investment in very negative, which is quick to warn people of risks without giving proper weight for profit.”
The government is working with the financial regulator to provide assistance to investors.
It comes because Reavs stepped back Cash Cash Individual Savings Accounts (ISA) deduct tax-free limit After a backlash from lenders – he is eager to shift some of these accounts to invest to UK and its companies.
At the annual Haveli House Dinner in the city of London, Reavs told business leaders, “Our complicated system of financial advice and guidance means that people cannot get the right support to make decisions for themselves.”
He said that the government is consulting with the Financial Conduct Authority “to start a new type of target support for consumers before the new financial year”.
The government is under pressure to ignite development after data Britain’s economy revealed in May After a contraction in April.
Meanwhile, U-turn and winter fuel allowance on the welfare benefits has speculated that the budget may increase later this year.
Some labor MPs have suggested a money tax earlier, such as 2% tax on assets of more than £ 10m, can increase £ 24bn per year,
Speaking at the Haveli House event, former Lord Mayor of the London city Sir William Russell told the BBC, “Unfortunately, the break is going to occur between tonight and October. In a way, it is not good because there will be speculation about money tax that I don’t think that the government is more intelligent.”
But he said: “This break does not help because there is uncertainty and if there is one thing that we all agree, the city does not like uncertainty.”
Reeves said that new measures to encourage consumers to invest would mean “Saver can achieve the benefits of Britain’s economic success”.
But the value of investment in assets such as shares can go down as well as go down the risks in the saver, although rising prices can be erased by saving cost.
The government has encouraged the public to buy shares in Britain companies in the past, including the Royal Mail in 2013 when the Royal Mail was swimming in the London Stock Exchange.
But perhaps the most famous example was in 1986, when the state -owned British gas was privatized and the “Tail SID” campaign was launched by Margaret Thatcher’s government. The characters depicted in TV advertisements urged each other to “tell Sid” about the opportunity to buy shares in British gas.
In the context of her recent travels, including a tearful appearance in the House of Commons – Reaves said that during a school visit, a girl asked her what she could do if she could do a job in the world.
“Looking at the events of the last few weeks, I suspect that many of you have sympathy if I called” anything but Chancellor “,” he joked with the audience. “But I didn’t.”
In his speech, Reavs said that she would continue to consider more changes in the coming months, by widely engaged in the coming months “.
He provided more information about changes in the UK financial services sector including reform regulation.
“In many areas, the regulation still acts as a boot on the neck of businesses,” he said. “Closing enterprise and innovation that is the life of development.”
He said that in other areas, regulators should “call the call I make this evening, not for the temptation of excessive caution but to regulate bold to increase the service of prosperity across our country”.
Before delivering his speech at the Haveli House Assembly, Governor of Bank of England, Andrew Bailey was asked whether the trade was closed between providing stability and development.
In the past, Mr. Bailey has been cautious about Deragulation.
But he told the BBC: “In any way I am not suggesting that all our rules are completely formed, so not, it is not business, but this does not mean that we do not change the system and modernize and keep it up to-we balance those two things.”
