Justin Welby is urging the UK’s financial watchdogs to ‘practise what they preach’ amid concern that regulation aimed at preventing another financial crisis is weakening. The Archbishop, who sits on the advisory board of the think-tank New City Agenda, is backing its report on the need for improvements in the regulatory culture of the Bank of England, Financial Conduct Authority and Prudential Regulation Authority. The New City Agenda report warns that without this, the UK will be ‘sleepwalking into the next financial crisis’, and that ‘crucial change’ following the 2008 financial crisis ‘is already being watered down’.