The next big moment for Rachel Reeves and growth comes at the Mansion House on July 15.
Historically, the annual dinner for bankers was an opportunity for the Chancellor to pronounce on monetary policy. In recent years, the focus has shifted to pensions, savings and equity markets.
If Reeves had fiscal space, she could improve the competitive position of the City and strengthen equity culture at a stroke by abolishing stamp duty on share trading.
Instead, she is in danger of alienating critical players in the pensions arena by adopting a clunky, government-knows-best approach.
Lloyds Bank boss Charlie Nunn fears that if the Chancellor takes new powers to require pension funds to devote 5 per cent of funds into UK infrastructure and private firms, it…
