# UK must be ‘much bolder’ in pursuit of closer EU ties, Reeves says

By Andrew Prosser — 2026-07-15

Andrew Prosser, head of investments at InvestEngine, said: “In last year’s Mansion House speech, the Chancellor unveiled the Leeds Reforms, a wide-ranging package aimed at driving economic growth and encouraging greater retail investment.

“The UK’s investment culture still has room to grow, and against this year’s speech, the lack of anything further on retail investment was notable.

“Beyond a short reference to turning Britain’s savers into investors through ISA changes and financial advice, there was little sense of momentum in these areas. This was a missed opportunity given that many questions over these reforms remain. Proposed changes to ISA allowances risk introducing unnecessary complexity.

“One of the ISA regime’s greatest strengths has always been its simplicity, and these proposals have instead created uncertainty for both consumers and providers.

“The ambition behind the Invest for the Future campaign – announced in last year’s speech but omitted here – is the right one, but its long-term success will depend on broad participation across the investment industry.

“A campaign that reflects providers of all sizes, alongside the full range of investment options available to consumers, is more likely to achieve its goal of building a stronger investment culture.

“Much of the speech instead focused on rapid advances in AI and it was encouraging to hear the Chancellor focus on how technology can strengthen the UK’s financial services sector.

“AI is already helping many consumers improve their financial literacy and better understand how to manage their money, presenting significant opportunities to improve financial engagement.

“At the same time, it’s essential that consumers continue to receive accurate, transparent and appropriate information, while financial services professionals are equipped to understand how these technologies are evolving and how customers are using them.

“Getting that balance right will be key to realising the benefits of AI without compromising consumer protections.

“Whoever becomes Chancellor cannot afford to lose momentum. If the UK is serious about becoming a nation of investors, reforms now need to move from ambition to delivery.

“Keeping ISAs simple and accessible, while ensuring initiatives such as Invest for the Future reflect the breadth of today’s investment market, will be essential to building long-term confidence in investing.

“Ultimately, building a nation of long-term investors won’t happen through speeches alone. It will require stable policy, simple regulation and investment products that people understand, trust and can afford to use.”

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