(UK) Banks want government to cut regulatory costs, survey finds

[unhappycamper]

http://www.theguardian.com/business/2015/jun/29/banks-like-government-cut-regulatory-costs-survey-finds

Reduced costs of complying with new regulations and tax stability top priorities for financial firms polled by the CBI

Banks want government to cut regulatory costs, survey finds
Sean Farrell
Sunday 28 June 2015 19.01 EDT

Banks and other financial companies want the new Conservative government to cut the cost of complying with a swath of new regulation, according to a survey by the Confederation of British Industry.

When the employers’ lobby group asked firms what the government should do to help the financial industry support economic growth, reducing regulatory costs was the top priority, particularly for banks.

Banks said they expected to spend more money complying with rules in coming months and that new laws and regulations were potential brakes on business expansion.

Companies also called for more stability in the tax system – a priority that came a close second to lower regulatory costs among banks.