Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Chancellor Kwarteng summons bank chiefs for economy crisis talks

by September 7, 2022
September 7, 2022
Chancellor Kwarteng summons bank chiefs for economy crisis talks

The bosses of Britain’s biggest banks will hold talks with the new chancellor on Wednesday as he tries to exert a grip on the stalling UK economy.

It is understood that Kwasi Kwarteng has convened a meeting with the chief executives of lenders including Barclays, Lloyds Banking Group and NatWest Group just hours after being appointed to the post.

City sources said the meeting was to set out the government’s approach to the economy as Liz Truss’s administration attempts to respond to the crisis triggered by soaring global inflation.
The £100bn-plus energy relief package that Ms Truss is expected to finalise this week is not thought to be a central plank of Mr Kwarteng’s agenda.

Ministers are understood to be planning to finance their energy market intervention through additional government borrowing rather than loans to energy suppliers to subsidise bills.

Britain’s biggest banks have been told by the City regulator to outline how they plan to support their customers through the cost of living crisis, and the new chancellor is likely to impress upon them the importance of doing so, according to one insider.

HSBC, Santander UK and Nationwide, the UK’s biggest building society, are also expected to be represented during the talks with Mr Kwarteng.

A source said Virgin Money might also be present.

The chancellor, who will replace Rishi Sunak, Ms Truss’s rival for the Conservative Party leadership, is likely to meet the bank chiefs on a regular basis as ministers seek to weather the current economic turbulence.

Read more:
Chancellor Kwarteng summons bank chiefs for economy crisis talks

0
FacebookTwitterGoogle +Pinterest
previous post
Hopes for energy price freeze delight investors
next post
Holiday Inn hotels hit by cyber-attack

You may also like

Will UK creatives be replaced by robots?

January 30, 2023

Ann Summers boss Jacqueline Gold dies aged 62

March 17, 2023

Airbnb shares tumble 12% amid weakening US demand...

August 7, 2024

Legal sector hits back at EU calls for...

September 15, 2022

Thousands of UK businesses could face ‘significant delays’...

August 2, 2022

New York Times sues OpenAI and Microsoft for...

December 28, 2023

Iceland boss warns Labour of potential bankruptcy from...

August 27, 2024

3 Hyundai Models All Camping Enthusiasts Love

March 26, 2025

Israeli actress Roni Nadler to invest £7M in...

May 18, 2023

Jeremy Hunt Unveils £360m Manufacturing R&D Package to...

March 4, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Rubio condemns assassination attempt on Colombian presidential candidate Miguel Uribe

      June 8, 2025
    • Obama WH physician says Biden doc should have performed cognitive test

      June 8, 2025
    • Trump warns of ‘serious consequences’ if Elon Musk funds Democrats

      June 7, 2025
    • Musk jokes about reconsidering stance on Big Beautiful Bill after Schiff’s praise

      June 7, 2025
    • Musk deletes explosive posts about Trump and Epstein files

      June 7, 2025
    • House witness flips script on Dem who ambushed him during hearing with unearthed tweet: ‘Iceberg is ahead’

      June 7, 2025

    Categories

    • Business (8,152)
    • Investing (2,019)
    • Politics (15,570)
    • Stocks (3,136)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved