Lapses in banking oversight were one of the chief causes of the financial crisis, the consequences of which we are still living with today more than 15 years later, seen in mountainous debt, low growth and pinched living standards.

Rachel Reeves used her first Mansion House speech last night to do something that would have been unthinkable from her even a few years ago. She said, essentially, that bankers will get their bonuses earlier under Labour.

Chancellor tells the City she is “clear that the financial services sector must play a central part in our economic vision and our plan for economic growth. “

I’ll ease banking regulations - Chancellor pledges to lift banking regulations to boost growth as she launches fightback against criticism of her Budget

The Chancellor, in her first Mansion House speech tonight, will say rule changes in the wake of the global banking meltdown were 'right'.