Financial Conduct Authority

Treasury written question – answered at on 8 May 2024.

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Photo of Christian Wakeford Christian Wakeford Opposition Whip (Commons)

To ask the Chancellor of the exchequer, if he will make an assessment of the implications for his policies of the workplace culture at the Financial Conduct Authority.

Photo of Bim Afolami Bim Afolami The Economic Secretary to the Treasury

The Financial Conduct Authority (FCA) is operationally independent from Government, meaning it is responsible for internal matters, including its workplace culture.

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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.