Part of Oral Answers to Questions — Treasury – in the House of Commons at 12:00 am on 17 January 2017.
Chi Onwurah
Shadow Minister (Department for Business, Energy and Industrial Strategy) (Industrial Strategy)
12:00,
17 January 2017
On Friday, I visited Wirecard, an innovative financial technology company in the emerging payments sector; it is based in Newcastle. It is concerned that leaving the European single market, and in particular the passporting rights, will diminish investment in fintech, an area in which this country leads, and which is growing in Newcastle and the north-east. What reassurance will the Minister give Wirecard?
Ministers make up the Government and almost all are members of the House of Lords or the House of Commons. There are three main types of Minister. Departmental Ministers are in charge of Government Departments. The Government is divided into different Departments which have responsibilities for different areas. For example the Treasury is in charge of Government spending. Departmental Ministers in the Cabinet are generally called 'Secretary of State' but some have special titles such as Chancellor of the Exchequer. Ministers of State and Junior Ministers assist the ministers in charge of the department. They normally have responsibility for a particular area within the department and are sometimes given a title that reflects this - for example Minister of Transport.
