Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what steps his Department is taking to support the financial services sector in Meriden constituency.

The government’s vision for financial services is for a sector that is open, sustainable, technologically advanced, globally competitive, and which acts in the interests of communities and citizens across all four nations of the UK.

The Edinburgh Reforms will drive growth and competitiveness while retaining our commitment to high international standards. This supports delivery of the Chancellor’s wider priority of driving economic growth and prosperity through his 4 E’s: Enterprise, Education, Employment, and Everywhere.

The government recognises that financial services is an important employer across the whole of UK, with 2.5 million people employed in financial and related professional services across the UK, two thirds of whom are employed outside of London. This includes 145,000 people in the West Midlands alone.

The Government’s approach to financial services reforms will ensure that the sector benefits from dynamic and proportionate regulation, and that consumers and citizens from across all four nations of the UK benefit from high quality services, appropriate consumer protection, and a sector that embraces the latest technology.