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Financial Services: Regulation

Treasury written question – answered at on 13 December 2018.

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Photo of Stephen Timms Stephen Timms Labour, East Ham

To ask the Chancellor of the exchequer, with reference to the oral contribution of 6 December 2018, Official Report, column 1091, if he will publish the enhanced equivalence arrangements for regulating financial services between the UK and the EU.

Photo of John Glen John Glen Minister of State (Treasury) (City), The Economic Secretary to the Treasury

I refer the Rt Hon Gentleman to my answer to him on 29 November in response to written question 195459. Further detail building on the agreement in the political declaration will be set out by the UK and EU as part of negotiations on the future relationship.

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  • (Citation: HC Deb, 13 December 2018, cW)

Chancellor of the Exchequer

The chancellor of the exchequer is the government's chief financial minister and as such is responsible for raising government revenue through taxation or borrowing and for controlling overall government spending.

The chancellor's plans for the economy are delivered to the House of Commons every year in the Budget speech.

The chancellor is the most senior figure at the Treasury, even though the prime minister holds an additional title of 'First Lord of the Treasury'. He normally resides at Number 11 Downing Street.