We probably won’t see the return of shoulder pads, big hair, or yuppies swilling champagne in the bars around Liverpool Street. Even so, the Chancellor Rachel Reeves will promise a return to the go-go spirit of the 1980s in her Mansion House speech this evening, with a pledge of ‘Big Bang’ style deregulation to boost growth and get the financial markets moving again. There is just one catch – and it’s a big one: Reeves is making the wrong reforms, and all Labour’s other policies are destroying confidence. The Chancellor’s shake-up is doomed to fail.

There is no point in promising a ‘Big Bang’ for the City while also driving........

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