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

Instagram owner Meta fined €405m over handling of...

September 6, 2022

Goldman Sachs Lifts Bonus Cap for UK Staff,...

May 3, 2024

Tory peer Lord Young, ‘Mr Entrepreneur of Whitehall’...

December 10, 2022

Succession & legacy planning: Can it ever be...

April 12, 2024

Shift boss launches legal bid to stall InPost’s...

April 21, 2025

How your credit score impacts your car insurance...

February 17, 2023

Laverock Therapeutics raises £13.5M to develop unique gene...

September 28, 2023

Record sales drive Jaguar Land Rover into fast...

November 3, 2023

Thames Water hit with record £123 million fine...

May 28, 2025

Heston Blumenthal calls for greater urgency in tackling...

February 14, 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

    • 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
    • Call with China’s Xi, and Trump-Musk exchange fueled barbs during 20th week in office

      June 7, 2025
    • Trump’s conservative allies warn Congress faces critical ‘test’ with $9.4B spending cut proposal

      June 7, 2025
    • Tech ETFs are Leading Since April, but Another Group is Leading YTD

      June 7, 2025

    Categories

    • Business (8,152)
    • Investing (2,019)
    • Politics (15,567)
    • 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