Question to the HM Treasury:

To ask His Majesty's Government, further to the Written Answer by the Economic Secretary to the Treasury on 20 February (HC23473), whether the Chancellor of the Exchequer will use her powers under section IJA of the Financial Services and Markets Act 2000 to recommend to the Financial Conduct Authority that it drop the proposal to impose a new regulatory requirement on diversity and inclusion on the financial sector.

The Financial Conduct Authority and Prudential Regulation Authority announced on 12 March that they have no plans to take forward their proposed rules on diversity and inclusion in regulated firms.