Reeves to launch City ‘skills compact’ committing firms to retrain staff in AI

Politics The Guardian By Kalyeena Makortoff Banking correspondent 10 Jul 2026 05:00 1 min read

Exclusive: Plan to improve skills of thousands of financial sector workers to keep pace with tech revolution Chancellor Rachel Reeves is to announce a new City “skills compact” that will commit firms such as Barclays and Lloyds to retraining thousands of financial sector workers for the AI revolution. The financial services skills compact will be launched on Tuesday, during what is likely to be Reeves’s final Mansion House speech to City bosses before Andy Burnham’s expected takeover of No 10. T

Exclusive: Plan to improve skills of thousands of financial sector workers to keep pace with tech revolution

Chancellor Rachel Reeves is to announce a new City “skills compact” that will commit firms such as Barclays and Lloyds to retraining thousands of financial sector workers for the AI revolution.

The financial services skills compact will be launched on Tuesday, during what is likely to be Reeves’s final Mansion House speech to City bosses before Andy Burnham’s expected takeover of No 10. The government-backed initiative will commit employers to improving workers’ skills and helping them “keep pace” with significant technological changes that have prompted fears of mass redundancies.

Read the full story on The Guardian → Opens the original article on www.theguardian.com

Summary aggregated from The Guardian's public RSS feed. The full reporting belongs to The Guardian — please read it on their site.