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Bank chiefs to Reeves: Ditch ring-fencing to boost UK economy

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Summary
Nutrition label

80% Informative

HSBC Holdings , Lloyds Banking Group , NatWest Group and Santander UK CEOs urge chancellor to ditch ring-fencing.

They say it is a drag on banks' ability to support business and the economy.

The four banks argue it is now redundant and should be scrapped.

Removing ring-fencing would eliminate these cliff-edge effects and allow firms to obtain the full suite of products and services from a single bank, according to the letter.

Santander, HSBC, Santander and HSBC are among those calling for the end of the practice to be abolished.

VR Score

86

Informative language

89

Neutral language

33

Article tone

semi-formal

Language

English

Language complexity

73

Offensive language

not offensive

Hate speech

not hateful

Attention-grabbing headline

not detected

Known propaganda techniques

not detected

Time-value

short-lived

Source diversity

1

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