Monday 20th Jan 2025
The chancellor, Rachel Reeves, has launched a bid to intervene in a supreme court hearing in the car finance commission scandal that could reduce the £30bn-plus compensation bill lenders currently face.
The Treasury submission on Monday added that the case might “generate a perception that regulation in the UK is uncertain”. The letter, first reported by the Financial Times, also warned judges that “any remedy should be proportionate to the loss actually suffered by the consumer and avoid conferring a windfall”.