Shortly after Britain quit the European Union, finance minister Rishi Sunak promised a slew of “Big Bang 2.0” steps to keep the City of London as being one of the world's biggest financial hubs.

Four months later, many financiers believe his policies are a long cry from Margaret Thatcher's dramatic improvements of the 1980s, known as the Big Bang, which led to London controlling most of the global finance for the next four decades.

“Several things are happening, but it doesn't stack up to a Big Bang 2.0. “It's all about tweaking than dramatic change,” Miles Celic, chief executive of TheCityUK, a financial sector promotion organization, told Reuters.

After Britain's complete exit from the EU on December 31st, the 130 billion pound ($181 billion) finance sector has lost thousands of jobs, a trillion pounds of cash, and billions of euros in regular stock and swaps trading to Amsterdam.

The government of Prime Minister Boris Johnson has replied by recommending amendments to make regulations on stock exchange lists, financial technology companies, and insurers more versatile, and a reform of capital and proprietary trading rules.

Last week, it requested the Bank of England to begin investigating a central bank-backed digital currency dubbed ‘Britcoin' by Sunak.

However, the Treasury is limited on how far it will go due to competing agendas, the need to adhere to a global rulebook, and the Bank of England's opposition to weakening many of the stringent regulations imposed in the aftermath of the 2008 financial crisis.

Many in the sector are unsure whether anything is happening to draw significant new overseas business, and they are pleading with the government to have a specific long-term plan.

“An ambition will provide a roadmap for regulators and provide our partners, the countries in which we do business, with a sense of perspective and commitment in this location,” Celic said.

The Treasury said in a report that it is increasing competition through a range of changes varying from revisions to listing rules to the development of Britain's first sovereign green bond.

“The Chancellor has laid out a strong vision with a more open, creative, and environmentally friendly financial services sector – and we are working fast to execute on that,” a Treasury spokeswoman said.

According to a senior asset management industry official, it would be nice to hear Sunak make a “powerful statement” before the summer in support of more inclusive regulation and leaving the British sector free independent of what the other countries do.

With so much at risk, provided that Britain's financial services industry hires 1.1 million employees and generates about 75.5 billion pounds in tax revenue per year, an amount those analysts PwC anticipate to fall in 2021 as a result of the City of London being largely split off from the EU, the largest export market.

Several regulatory amendments will include reform, which means they will not go into force until 2022 or later. Conor Lawlor, director of capital markets and wholesale at banking industry body UK Finance, says the tempo of changes has been steady but needs to pick up. “We are eager to see it put into action.”

The Treasury is also getting ready for Brussels to say if any sectors of the market would be granted direct entry to the EU if the applicable British regulation is deemed broadly similar to its own.

Bankers argue that because the EU has stated that it is in "no hurry" to make a decision, the government should postpone attempting to gain access to its former backyard and instead concentrate on more changes that will help the sector cope better with New York, Singapore, and the EU.

“What we just want the government to do is get on with restructuring and put forth all the regulatory reviews because there is no rational excuse to wait,” a senior official at a London-based international bank told Reuters.

Many bankers would like to see a more robust, multi-year commitment that covers tariffs, the willingness of financial institutions to effectively attract from abroad, and options to maintain foreign banks, such as a bespoke capital policy.

“Till now, we've just seen a couple of little proposals wedged together in a new package, but do they stack up to being enough?” asked the banker.

The Bank of England has cautioned against being compelled to prioritize City competition or weaken capital standards, even though the financial sector itself has conflicting goals.

Domestic insurers and creditors are more worried about effective tailoring laws for them instead of moving all out to increase the City's global appeal.

Bankers want to see the change implemented as quickly as possible since they've been abandoned in the cold following Britain's Brexit referendum in 2016.