Treasury written question – answered at on 16 September 2025.
Mark Garnier
Shadow Economic Secretary (Treasury)
To ask the Chancellor of the exchequer, whether her department has made an assessment of the benefits of tokenised financial infrastructure.
Lucy Rigby
The Economic Secretary to the Treasury
Using distributed ledger technology to tokenise assets could deliver a step change in financial market efficiency, particularly by enabling more efficient, real-time data sharing which could lower operational costs and enhance resilience.
It is important that the government works with the financial services regulators and the sector to understand and deliver these benefits. That is why the government has published its Wholesale Financial Markets Digital Strategy and why it has taken forward the Digital Securities Sandbox which will facilitate the issuance, trading and settlement of tokenised securities in the UK on distributed ledgers. It is also taking forward other initiatives such as the Digital Gilt Instrument, or ‘DIGIT’, which will help demonstrate the benefits of these new technologies.
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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.
