Chancellor Rachel Reeves (pictured) has increased engagement with leaders in the financial services sector to shape the first Financial Services Growth and Competitiveness Strategy, set to be published in spring.
Reeves will host a series of Industry Forums to gather insights from sectors including banking, insurance, and asset management.
The strategy aims to provide support for the financial services sector to grow and finance investment, aligning with the Government’s Plan for Change.
The sector was identified as one of eight key areas for economic growth in the Government’s Modern Industrial Strategy.
These forums build on a Government Call for Evidence which closed in December 2024.
Reeves said: “Growth is my number one mission. It’s the only way to put more money in people’s pockets and key to our Plan for Change.
“The financial services sector is at the heart of this mission, supporting economic activity and financing investment across the country.
“I am committed to working hand-in-hand with the industry to make sure that our plans are informed by those who both provide and utilise financial services, including those who know first-hand what is needed to unlock growth in, and drive prosperity through, our world-leading financial services sector.”
The first meetings of the Industry Forums will take place throughout January and February, reconvening before the strategy’s publication.
The Government plans to maintain close collaboration with the industry to ensure effective implementation of the strategy.
