Oral Answers to Questions

Baroness Morgan of Cotes Excerpts

Wednesday 24th January 2018 Commons Chamber

[The Prime Minister]

The DWP does not give details of individuals with whom it deals, and that is absolutely right; what it does is ensure we have a welfare system that provides support to those who need it and increasingly encourages those who can to get into the workplace, because we continue to believe that work is the best route out of poverty.

[Nicky Morgan (Loughborough) (Con)]

In a December press release, the Bank of England described the UK’s financial system as both “a national asset” and “a global public good”. Does my right hon. Friend think it unreasonable that the UK financial services sector, which pays billions of pounds in taxes, wants to hear the Government’s ambition to ensure that the City of London remains a global pre-eminent financial centre, in the same way they set out their ambition for other sectors last summer?

[The Prime Minister]

I have said in this Chamber and outside that we retain the ambition of ensuring the City of London remains a global financial centre, and that is indeed what we are working on. I was very pleased to welcome a number of senior representatives from the financial services sector to No. 10 Downing Street only a few weeks ago and to sit down and talk to them about how to do exactly that. London’s place as a financial centre for the world is not just a benefit to the UK; it is a benefit to the global financial system and to the EU.