UK Politics
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This is a strange bit of public feuding between the government and BoE.
Revolute is an interesting company which might be first to introduce Wero (EU based Visa/Mastercard competitor) to the UK, which is competition we need, but they are also heavily involved with crypto.
I just don’t know who is getting bribed and influenced the most, or in the end what is the best for the people.
Generally the BoE makes a lot of sense, and I don't see anything here that would change my position. I haven't seen whether Revolut has had their licence upgraded from limited yet, but that has to be due any day now that they've had their 1 year limited trial to prove operations.
When you are dealing with peoples money, I don't want these things to get rushed, and Reeves saying things like
Financial services is doing great. Probably one of the best performing parts of the UK, why don't you concentrate on literally anything else, like taxing unearned income?
This is the point I don’t really get, if their licence is days away from issue anyway why would Reeves meeting with them be a problem?
No argument from me regarding a wealth/unearned income tax, how this has not be implemented is beyond me. It just reeks of corruption.
Because financial institutions, including the BoE have a lot more on the line, and need to keep reputational appearance even if politicians don't care because they will be out on the streets before the next election.
What's Reeves hoping to gain from this, while making claims of "cutting red tape"? It sounds like simple political interference, and as such she can fuck off.