Gareth Thomas
Main Page: Gareth Thomas (Labour (Co-op) - Harrow West)Department Debates - View all Gareth Thomas's debates with the HM Treasury
(5 years ago)
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John Glen
I am grateful to my hon. Friend for that question and for his work as chair of the all-party parliamentary group on financial technology over the last four years. The regulator is the UK’s leading authority for interchange fee regulation, as he knows, and it is conducting a review into the fees that businesses face when accepting card payments. I acknowledge his concern, and we are open to hearing views on this issue, and on digital payments more broadly, as part of our call for evidence.
Gareth Thomas (Harrow West) (Lab/Co-op)
Can the Minister think of one independent trade expert who thinks FinTech in the UK will do better once Britain has left the European Union?
John Glen
As the hon. Gentleman knows, it is the Government’s policy to have an orderly exit from the EU. However, we know that FinTech has proved to be very resilient in all circumstances. We had record investment of £15 billion last year. That is testimony to the creative power of that industry, working in the financial services sector in the City.