Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment he has made of the potential impact on financial stability of the proposals to amend regulation of the financial sector announced in Edinburgh on 9th December 2022.

The Edinburgh Reforms, launched by the Chancellor on 9 December, take forward the government’s ambition for the UK to be the world’s most innovative and competitive global financial centre.

The government’s approach recognises and protects the foundations on which the UK’s success as a financial services hub is built: agility, consistently high regulatory standards, and openness. This approach will continue to ensure that the sector is resilient and able to support economic growth, while ensuring consumers and citizens benefit from high-quality services, appropriate consumer protection, and a sector that embraces the latest technology.