Reeves to say cuts to City red tape will bring trickle-down benefits to households | Financial sector

Rachel Reeves will claim that cutting red tape for City firms will have trickle-down benefits for households across Britain, as she tries to drum up support for a new financial services strategy.

A raft of regulatory reforms are due to be announced by the chancellor on Tuesday, in what the Treasury says will be the “biggest financial regulation reforms in a decade”. It will come before her Mansion House address to City bosses during a dinner at Guildhall in London on Tuesday evening.

Under the “Leeds reforms” – which Reeves will announce during a “summit” with top City executives in West Yorkshire – the chancellor will declare that paring down burdensome regulation is key to unleashing UK growth and ultimately ensuring that households are better off.

“I have placed…