Financial Services:Written question - HL9898

Q
Asked on: 24 July 2018
Treasury
Financial Services
Lords
To ask Her Majesty's Government what steps they are taking to advance the UK’s position as an international financial centre.
A
Answered by: Lord Bates
Answered on: 02 August 2018

The UK is home to the world’s preeminent financial centre and the government is committed to maintaining and enhancing this position. In addition to our natural advantages, such as a central time zone and the English language, we have strengths across all the major sectors – banking, asset management, and insurance – alongside a globally respected regulatory system, and world-class legal and professional services.

As the Chancellor of the Exchequer set out in his Mansion House speech in June, the government has a long-term vision for the future of UK financial services, based on ensuring the continued innovation, resilience, and openness of the sector. This includes strengthening the UK’s already world-leading positions in the markets of the future, whether in Fintech, green and sustainable finance, or rupee and renminbi products.

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