Future of Financial Services

Richard Fuller Excerpts

Monday 9th November 2020 Commons Chamber

[Rishi Sunak]

What we are announcing today will ensure that the UK remains the most open, competitive, technology-leaning and dynamic place to do financial services anywhere in the world. It is a constantly changing industry and it is right that we are on the cutting edge of developments. Now that we are outside the EU and leaving the transition period, we have the ability to make further changes to our regulatory regime, to enhance our competitiveness and to attract jobs, capital and business to the UK.

[Richard Fuller (North East Bedfordshire) (Con)]

Regarding the comment made by the hon. Member for Wirral South (Alison McGovern), I do not know where Labour MPs have been these past few weeks, but the Chancellor has been here today, 9 November, and on 5 November, on 22 October, on 20 October, on 14 October, on 24 September and on 15 September. No Chancellor has been more responsive to the needs of Members of Parliament than this Chancellor, which is why I welcome his statement today. It demonstrates that neither the financial services sector nor he as UK Chancellor are going to sit around and wait for the EU to respond, but that he will point the way forward in leadership in green finance, in financial technology and in financial transparency. Will my right hon. Friend build on the green sovereign bond announced today, so that ahead of COP26 retail investments will be available for retail investors?

[Rishi Sunak]

I thank my hon. Friend for his question. He will know from his extensive experience in financial services how important the announcements today are. He makes a very interesting suggestion, and I would love to meet him to discuss it further and see what we can do.