It's very much aligned with Blair and Brown. The UK exchequer did well off the change dropped to the floor by the mega casino that was UK banking - right up until the point that it nearly bankrupted the country. I don't know whether Brown has ever talked about it since and if he'd have been less laissez-faire if given his time again. Reeves and the talk of "cutting swathes of red tape" don't inspire me that we're heading for anything but a repeat of 2008, but this time without a generally healthy economy to absorb it.
Pragmatically I don't have a huge problem with Reeves championing the finance sector if it's sustainable and is going to lead to better public services. I'm not convinced of the correlation between banker bonuses and government tax take though and I'm quite sure many senior Labour figures questioned that at the time of Truss/Kwarteng as well. It's certainly not good a good look for Labour to be deeming a 200% bonus for bankers insufficient when the majority of people that they need to vote them into power are barely scraping by.
One of the issues we have is the concentration of wealth and focus, on the London financial sector. Which has been hit massively, of course, by the elephant in the room (Brexit).
Yes, I think I remember them making point about tax revenue, at the time.
"Not a good look", is a bit of an understatement, I think. It's shocking and morally indefensible, particularly in the current climate. I think Kwarteng took a hammering, when he did it.
Could you imagine another GFC in the current climate...??