Hunt to scrap 100 'outdated' EU rules

PROTECTIONIST EU rules holding Britain back will be scrapped under plans to unlock growth, vows Chancellor Jeremy Hunt.

-  Sam Lister

In his annual Mansion House speech in the City of London today, he pledges that nearly 100 outdated pieces of regulation will be axed to help boost the financial services industry.

Mr Hunt says the changes are "common sense" and a marker of a government "grasping our newfound Brexit freedoms to simplify the rulebook".

He adds that the reforms will make it "easier than ever" for firms to do research, raise funds and float their business.

And he is telling business leaders he wants to simplify the rules for buying and selling shares, improve research facilities, deliver higher returns for investors, and lay out plans for an entirely new kind of stock exchange.

Mr Hunt will also announce an agreement with leading pensions firms to put five per cent of their investments, a sum of up to £50billion, into high-growth businesses.