Post-Brexit financial regulation proposals unveiled

Regulators will be required to promote the international competitiveness of the UK financial services sector under plans by the Treasury for a post-Brexit overhaul of the industry (The Times).

UK Finance said the proposals ?rightly seek to balance enhancing the UK's international competitiveness, while ensuring we maintain the highest regulatory standards? (Financial Times).

draft climate deal urges countries to step up climate goals

The first draft of an agreement setting out how countries will cut emissions to avoid temperature rises of above 1.5C has been published. The agreement or "cover decision" sets out what negotiators hope will be the outcome of the COP26 talks (BBC News). It encourages richer countries to scale up support for poorer nations.

Meanwhile, data on emissions must be improved to meet the UK's net zero target, the IT industry has urged. More than 70 per cent of technology experts lack confidence that key policymakers and departments have access to the right data according to a survey by BCS, The Chartered Institute for IT (City AM).

NEWS IN BRIEF

The Bank of England and the Treasury are to launch a formal consultation on a UK central bank digital currency (BBC News).

Food prices are rising at their fastest pace since August 2020, figures from data firm Kantar suggest (BBC News).

The average house price across the UK is expected to break through the £370,000 mark within the next five years, as property prices may rise by more than £40,000, according to predictions made by Savills (City AM).

Britain's economy risks emerging from the pandemic into a long period of stagnation that damages household incomes and undermines plans to level up the regions, according to a report by the National Institute of Economic and Social Research (The Guardian).