Rachel Reeves’ Mansion House speech contained little that had not been leaked already, but City analysts and financial sector figures welcomed the direction of travel that the Chancellor espoused.
The speech to business leaders on Tuesday evening in London exhorted regulators to be more growth-minded, with Reeves describing red tape as acting as a "boot on the neck of businesses, choking off the enterprise and innovation that is the lifeblood of growth".
She said regulators must "not to bend to the temptation of excessive caution, but to boldly regulate for growth in the service of prosperity across our country".
Earlier in the day, the Chancellor had launched the so-called Leeds reforms, part of the government's financial services growth and competitiveness sector plan, including support for the mortgage market, a campaign to encourage more retail investment and lower listing costs.
Kathleen Brooks, head of research at investment platform XTB, said "those hoping for clarity on the tax regime were left disappointed".
But "the tone and content of the speech was clearly designed to win over the City", with reforms announced including deregulation, significant changes to the listing regime to try and boost the UK stock market, as well as key announcements to help home buyers and retail traders.
Brooks flagged a change to UK pension funds, where they could be mandated to invest in a wider range of riskier assets.
"The Chancellor did not state that these assets should be British, however, that change could come in future. Reeves stressed that she does not intend to force pension funds to do this, but she may do so if the funds don’t acquiesce to taking more risk."
This is "not all bad news, as riskier assets can deliver better returns than lower-risk investments like sovereign debt, which could make pension holders richer in retirement", Brooks adds.
"This change should be applauded, as it could boost the returns paid to retirees. However, it does leave us wondering, if pension funds ditch bonds in favour of higher return stocks and alternative investments, who will buy all of the debt that the UK government needs to issue?"
Reeves also confimed the mortgage guarantee scheme that had been leaked last week, with rules also to be eased to allow higher loan to value lending, and budding homeowners will be able to borrow higher multiples of their income.
"It is unclear whether young people will want to saddle themselves with excessive levels of debt, especially as we enter a period of economic uncertainty," said Brooks.
The third strand of the speech was retail investment, where Reeves did not reduce the cash ISA limit but said she is looking at further changes to ISA rules in the future.
"In fairness, Reeves cannot announce policy changes in a speech like this one, that must be done in the House of Commons, and such a change may be included in the budget. Otherwise, this could be seen as a sneaky way to raise tax: advertise to get people trading in stocks, only to charge them for the privilege."
Debbie Crosbie, chief executive of Nationwide said it was "an extensive package of pro-growth reforms that will be well received across UK financial services... Overall, the package has real substance and clear, positive intent."
Legal & General boss António Simões said the measures were "another step in the right direction".