Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, if he will make representations to the Bank of England and the Financial Conduct Authority to encourage them to take sustainability issues into account in the regulatory frameworks governing financial markets.

The Bank of England, its subsidiary the Prudential Regulation Authority (PRA), and the Financial Conduct Authority (FCA) operate independently within the statutory remit agreed by Parliament.

The statutory principles of good regulation to which the PRA and FCA must have regard, provided for at section 3B of the Financial Services and Markets Act 2000 include “the desirability of sustainable growth in the economy of the United Kingdom in the medium or long term”.