Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what steps she is taking to ensure that the Office for Investment: Financial Services engages systematically with (a) devolved Administrations and (b) regional investment bodies.

The Office for Investment: Financial Services is a public-private partnership between HM Treasury, the Office for Investment, the financial services regulators, and the City of London Corporation, working together to attract the world’s best financial services businesses to the UK. It was announced as part of the Financial Services Growth and Competitiveness Strategy, published at Mansion House in July 2025.

The government is committed to effective monitoring and evaluation of the Financial Services Growth and Competitiveness Strategy - including the Office for Investment: Financial Services - with clear indicators laid out in the Strategy focused on how growing the financial sector will support growth and investment across the UK.

The Financial Conduct Authority and the Prudential Regulation Authority are required by legislation to coordinate on a number of matters, for example to consult each other where there are matters of common regulatory interest where the other regulator may be expected to have relevant information or relevant expertise. The financial services regulators therefore have a close working relationship which will support the operations of the Office for Investment: Financial Services.

The Office for Investment: Financial Services will proactively promote all UK nations and regions as investment destinations for the world’s most innovative, fast-growing and highest quality financial institutions. To achieve this, it will work closely with the devolved administrations and regional investment bodies.