Financial Services: Competition

Treasury written question – answered on 7th February 2022.

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Photo of Kieran Mullan Kieran Mullan Conservative, Crewe and Nantwich

To ask the Chancellor of the Exchequer, what steps his Department is taking to support the financial services sector’s competitiveness.

Photo of Matt Vickers Matt Vickers Conservative, Stockton South

To ask the Chancellor of the Exchequer, what steps his Department is taking to support the financial services sector’s competitiveness.

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

In his Mansion House statement last July, the Chancellor set out the Government’s vision for an open, competitive, green, and technologically advanced financial services sector.

A sweeping set of reforms to sharpen the UK’s competitive advantage in financial services is already underway. In November, the Government published the second consultation in its Future Regulatory Framework Review. This provides a once in a generation opportunity to ensure that, having left the EU, the UK establishes a coherent, agile, and internationally respected approach to financial services regulation that is right for the UK.

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