Financial Services Reforms Debate

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Department: HM Treasury

Financial Services Reforms

Jonathan Edwards Excerpts
Tuesday 11th July 2023

(10 months ago)

Commons Chamber
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Andrew Griffith Portrait Andrew Griffith
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The work of regulatory reform to make this country globally competitive and an attractive place to invest is never done, as my hon. Friend knows. He will also know that we are seeing right now the fruits of the Prime Minister’s vision and strategy, with firms such as OpenAI and Andreessen Horowitz—two of the leading technology firms changing our world—both choosing in recent weeks the United Kingdom out of the entire rest of the world as the place to do business.

Jonathan Edwards Portrait Jonathan Edwards (Carmarthen East and Dinefwr) (Ind)
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Further to the question from the hon. Member for Blaenau Gwent (Nick Smith), what assurances can the Minister give that when the pensions dashboard is launched, it will be mandatory for all providers to participate in it and will not be done on a voluntary basis, to avoid it being what one analyst described as “half-baked”?

Andrew Griffith Portrait Andrew Griffith
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The hon. Member is quite right: it will be mandatory for all providers. That will be underwritten by legislation. The focus is to ensure that it is a usable, well regulated and well understood user experience for members.