Oral Answers to Questions Debate

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Department: HM Treasury

Oral Answers to Questions

Paul Masterton Excerpts
Tuesday 11th September 2018

(5 years, 6 months ago)

Commons Chamber
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Paul Masterton Portrait Paul Masterton (East Renfrewshire) (Con)
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The Economic Secretary to the Treasury saw at first hand when he visited East Renfrewshire a couple of weeks ago how small businesses are utilising FinTech to become more efficient and agile. What are the Government doing to help more small and medium-sized enterprises, such as First Floors in Giffnock, which he visited, to understand and take advantage of the opportunities FinTech presents?

John Glen Portrait John Glen
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My hon. Friend is absolutely right. It was a privilege to meet David Hepburn at First Floors and see the value of new products. The Government are committed to stimulating more investment in FinTech, and it was a privilege to visit FinTech Scotland, which is doing a lot, too. We have invested a considerable amount to increase the numbers of people who are taking this step to innovate in finance, and with open banking we will see more.