Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what support his Department is providing to promote the growth of the FinTech industry.

The Government is committed to making the UK the leading global FinTech hub, and has announced a large number of policy initiatives, including more supportive regulatory regimes for peer-to-peer, digital currencies, and other innovative firms.

The Government built on this record at the Summer Budget. First, Eileen Burbidge was appointed as the UK’s ‘Special Envoy for FinTech’, where she will represent UK interests in FinTech at home and around the world. Second, an international FinTech benchmarking exercise was announced to measure the UK’s performance and identify areas of best practice from around the world.