UK Chancellor of the Exchequer Rachel Reeves unveiled a comprehensive package of financial services reforms aimed at stimulating economic growth and boosting homeownership during her Mansion House speech in the City of London on July 15, 2025. The reforms include easing mortgage lending rules to allow banks to lend more than 4.5 times borrowers' salaries, specifically benefiting first-time buyers earning around £30,000. Reeves also pledged to overhaul the post-2008 financial regulations, including scrapping the ring-fencing rules that separate retail banking from investment banking, to encourage "informed risk-taking" and increase private-sector investment. The government plans to introduce changes to Individual Savings Accounts (ISAs), aiming to strike a better balance between cash savings and investment by allowing long-term asset funds to be held in stocks and shares ISAs starting next year, and by encouraging banks to send investment opportunities to savers with cash in low-interest accounts. These reforms represent the most extensive financial regulatory changes in over a decade, with the Chancellor describing current regulations as a "boot on the neck" of businesses. The government intends to streamline rules for senior managers and ease capital requirements for lenders as part of the deregulation effort. However, the proposals have drawn mixed reactions, with some City leaders expressing underwhelm and concerns about potential risks such as a surge in repossessions. The Shadow Business Secretary urged Reeves to rule out further tax increases amid the reforms. Overall, the government aims to leverage the financial sector to revitalize the UK economy by reducing red tape and promoting greater investment and homeownership opportunities.