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Ahead of the Chancellor of Exchequer’s Mansion House speech, Rt Hon Rachel Reeves has outlined the Financial Services Growth and Competitiveness Strategy (FSGCS).
A 10-year vision for our sector that mirrors many of the key proposals in UK Finance’s Mansion House submission, Plan for Growth, and response to HM Treasury’s call for evidence on the Strategy.
Our Chief Executive David Postings shared insight on the outcome:
Financial services are vital to the UK economy and I strongly welcome the Chancellor’s support for our sector as one of the UK’s global strengths."We submitted a range of ideas to government to help support growth and the UK’s position as a global financial centre. Across many of these key areas the Chancellor has listened and delivered significant positive change."Reforming the Financial Ombudsman Service, streamlining regulation in areas such as the Senior Managers and Certification Regime and the Consumer Duty, and supporting work by regulators to unlock capital for lending, will all help to drive investment and create a more pro-growth operating environment."Having a regulatory system that allows for appropriate risk-taking is vital to ensuring the sector can better support UK businesses, consumers and the government’s growth mission.
Financial services are vital to the UK economy and I strongly welcome the Chancellor’s support for our sector as one of the UK’s global strengths.
"We submitted a range of ideas to government to help support growth and the UK’s position as a global financial centre. Across many of these key areas the Chancellor has listened and delivered significant positive change.
"Reforming the Financial Ombudsman Service, streamlining regulation in areas such as the Senior Managers and Certification Regime and the Consumer Duty, and supporting work by regulators to unlock capital for lending, will all help to drive investment and create a more pro-growth operating environment.
"Having a regulatory system that allows for appropriate risk-taking is vital to ensuring the sector can better support UK businesses, consumers and the government’s growth mission.
15.07.25
UK Finance’s Plan for Growth brings together views from across our membership, and sets out reforms needed to help the financial services sector make an even stronger contribution to the government’s growth agenda, while also delivering benefits for consumers, businesses and society.
Alongside the Chancellor’s Mansion House speech, the government will publish the Financial Services Growth and Competitiveness Strategy (FSGCS). In advance of these events, UK Finance has submitted a range of ideas to help support growth and reinforce the UK’s position as a global financial centre
05.03.26
04.03.26
02.03.26
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