Bank of England Governor Bailey told the City of London annual dinner that blanket deregulation would be unhelpful and that well‑designed regulation is essential to support economic growth. He said UK economic activity remains fairly weak and conceded that current BoE rules are imperfect, arguing that simplistic calls for ‘more’ or ‘less’ regulation are not a reasonable position. Bailey noted that a year ago Chancellor Reeves had compared burdensome rules to a straitjacket. He also called for st

Bank of England Governor Bailey told the City of London annual dinner that blanket deregulation would be unhelpful and that well‑designed regulation is essential to support economic growth. He said UK economic activity remains fairly weak and conceded that current BoE rules are imperfect, arguing that simplistic calls for ‘more’ or ‘less’ regulation are not a reasonable position. Bailey noted that a year ago Chancellor Reeves had compared burdensome rules to a straitjacket. He also called for stronger international coordination on testing frontier AI models before broad deployment. Andy Burnham, who is expected to replace Starmer as prime minister next week, is expected to remove Reeves — a change that could alter fiscal policy direction.