FTAdviser

**Brand Description: Financial Services by Labour**

The Labour Party’s financial services vision seeks to address key industry concerns while promoting growth and stability. With a focus on enhancing consumer protection and bridging the advice gap—where only 8% of the UK population currently accesses financial advice—Labour aims to reform the advice and guidance boundary. Their initial strategy, encapsulated in the “Financing Growth” plan, proposes significant changes affecting mortgage products, including fixed-rate options and specially designed 'green' mortgages.

Labour acknowledges the necessity of a stable regulatory environment to foster firm growth while emphasizing competitiveness in the financial sector. By proposing a streamlined Financial Conduct Authority handbook, the government intends to provide clarity for financial advisers, allowing them to operate confidently. While details are still emerging, the commitment to balancing consumer protections with the dynamics of business growth is at the forefront of Labour’s objectives, enabling firms to navigate the changes effectively and implement them efficiently.