Outgoing L&G CEO slams government's levelling up policy - reports

Bank volatility making it worse

Nigel Wilson, outgoing CEO of Legal & General, has slammed the government’s levelling-up policy, describing it as “failing”.

In an interview with the Financial Times, Wilson, who announced his retirement from L&G in January, said: "Are we freeing enough capital to get on [with levelling up]? No. Are we building enough affordable housing, social housing, build-to-rent housing? No." He added that the recent turmoil within the banking sector would exacerbate the situation, since instability there would make the lending system more difficult. Wilson said this, combined with increased interest rates from the Bank of England and the "general uncertainty about valuations", was going to "cause issues". The gover...