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Most important part of chancellor's annual Mansion House speech was what wasn't said

GREATER LONDON, ENGLAND, JUL 15 – Chancellor Rachel Reeves unveiled the Leeds Reforms focusing on financial sector deregulation and growth while omitting mention of the welfare funding gap, with financial services supporting 1.2 million UK jobs.

Summary by Sky News UK
Speculation was rife that Rachel Reeves would impose new constraints on the amount that people can put into tax-free ISA savings. Some wondered, too, whether she would impose new taxes on the banking system. In the event, neither happened.
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Sky News UK broke the news in United Kingdom on Tuesday, July 15, 2025.
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