Chancellor to address Parliament on future of UK financial services

The Chancellor Rishi Sunak is expected to set out plans to bolster the UK’s position as a world-leading financial centre, and extend its leadership in green finance and financial technology, in a statement to Parliament this afternoon (Monday 9^th November).

In his first speech on financial services, the Chancellor will set out the Government’s ambitions for the sector, including its approach to equivalence, as the UK builds its global role outside of the EU.

The Chancellor is expected to stress that the Government’s approach to financial services will be guided by what is right for the UK, noting that its attractiveness as a global financial centre is underpinned by openness to international markets and robust regulatory standards.

Proposals to bolster the UK’s position as a world-leading green finance hub and accelerate the drive for net zero ahead of COP 26 are also expected, along with plans to ensure the UK can seize the opportunities presented by new financial technologies, whilst protecting consumers and financial stability.