City minister challenges 'inconsistent' Treasury Committee criticism of Edinburgh Reforms

'Regulatory change is a multi-step process'

City minister Bim Afolami has challenged a number of conclusions made by the Treasury Select Committee during its inquiry on the Edinburgh Reforms, describing them as “inconsistent”.

In December, MPs published a report on the progress made on Chancellor Jeremy Hunt's Edinburgh Reforms in the last year, examining the 31 "strands" of work that he outlined as the main focus of the post-Brexit financial services reforms. While the Treasury said the chancellor had completed 21 of the 31 reforms in the first year, analysis by the TSC found six of the actions marked as ‘delivered' by the government had not yet been completed. The committee also argued that some of the reforms had "limited impact on the government's flagship financial services reform programme". Treasu...