Regulation

Sunak defends giving politicians power to overrule regulators

Sunak makes last ditch attempt to double down on his deregulatory rhetoric

Wednesday 31 August 2022 at 07:54

Candidates will debate future of the City as hustings reach final stage
Candidates will debate future of the City as hustings reach final stage Photo: Chris Ratcliffe/Getty Images

Conservative Party leadership candidate and prime ministerial hopeful Rishi Sunak has stood by his defence of so-called 'call-in' powers over City regulators, but says that such moves should only be used "rarely".

The idea of a call-in power shot up the City's agenda as the government formulated its recent Financial Services and Markets Bill, a bumper piece of legislation that sets a new post-Brexit agenda across the Square Mile.