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UK finance industry supports reforms aimed at reducing regulatory costs
UK financial institutions backed regulatory updates expected to cut compliance costs significantly while redirecting attention toward growth financing opportunities across the sector.
UK banking and financial firms expressed support for newly announced regulatory changes projected to lower compliance-related expenses by 20–30% annually, equivalent to roughly £2 billion. The reforms, confirmed on December 6, shift focus toward expanding growth financing as the country maintains a 1.2% GDP forecast for 2026.