"The wealth of empirical evidence showing that, beyond a certain threshold, financial sector growth harms the wider economy...History has shown time and time again that beyond a certain point, the financial sector can only continue to grow by taking excessive risks and increasing the economy’s debt burden until the inevitable collapse.”

Excerpt from a letter by 50 economists and policy experts warning Reeves against City deregulation.

#Economy #UKPolitics #Finance #City
https://www.theguardian.com/business/2024/dec/16/economists-policy-experts-warn-rachel-reeves-city-deregulation