“We need to double down on our global strengths to put the UK ahead in the global race for financial businesses, creating good skilled jobs in every part of the country and helping savers’ money go further,” said Reeves, ahead of her Mansion House speech to City leaders.
The Treasury had already shelved any immediate plans to make changes to cash Individual Savings Accounts (Isas).
Savers can put up to £20,000 a year in Isas in savings and investments, to protect the returns from being taxed.
However, there is a plan in the Treasury to encourage people to invest for better returns, which would also boost growth in the UK economy.
But the value of investments in assets such as shares can go down as well as up, and savers have tended to be cautious over the risks involved although the spending power of savings can be eroded by rising prices. In the newly-announced Treasury proposals, there is a potential for some of the warnings to be watered down.
The Treasury said there would be a “review of risk warnings on investment products to make sure they help people to accurately judge risk levels”.
The move is part of reforms designed to boost financial services in the UK, known as the Leeds Reforms.
However, there may be concern that encouraging letters and messages from banks to encourage investing might be seized upon by fraudsters who could also send fake investment claims to new investors.
While there are some protections in place, savers will need to be wary of some unsolicited messages.