UK as a Financial Services Hub — [Graham Stringer in the Chair]

Part of the debate – in Westminster Hall at 9:30 am on 6th February 2019.

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Photo of Craig Tracey Craig Tracey Conservative, North Warwickshire 9:30 am, 6th February 2019

My hon. Friend makes some important points about banking. Does he agree that the insurance sector has a massive role to play? It brings in £29.5 billion to the UK economy, including, as I am sure the Minister will appreciate, £12 billion in taxes. The critical point about the insurance industry is that it employs 300,000 people, two-thirds of whom live outside London, so the industry has an impact on all our constituencies.