Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what steps his Department is taking to support the financial services sector to increase its competitiveness.

In his Mansion House statement in July 2021, the Chancellor set out the Government’s vision for an open, competitive, green, and technologically advanced financial services sector.

A sweeping set of reforms to sharpen the UK’s competitive advantage in financial services is already underway. As set out in the Queen's Speech on 10 May, the upcoming Financial Services and Markets Bill will deliver on these commitments by implementing the outcomes of the Future Regulatory Framework (FRF) Review as well as a series of important initiatives underpinning the Government’s ambitious vision for the financial services sector.