Rachel Reeves last night made what is surely her final Mansion House speech to the business bigwigs, obscure liverymen and bankers of the City of London.

Rachel Reeves will unveil the next steps for her ring-fencing reforms at Mansion House as banks call for an overhaul of the rules.

Reeves will use her third Mansion House speech to tell City chiefs that the next government must “maintain” fiscal credibility and stability.