Jeremy Hunt’s City reforms are far too timid

There will be some tweaks to the way that pension funds are allowed to invest their money. There will be some modest rewriting of EU rules on the way investment banks can provide analysis of company performance. And there will be some reduction in the big bundles of paper a company needs to issue before it can sell new shares. And, er, that seems to be about it. The Chancellor Jeremy Hunt may be trying to sell his latest round of City reforms as a significant reduction in red tape that will allow the financial sector to grow again. But, in keeping with his tepid, managerial style, they lack any real vision or guts – and won’t make much difference to anyone. 

When it comes to tinkering with a broken system, Hunt is proving himself an exceptional talent.