As part of the Chancellor’s series of weekly breakfast meetings
with different sectors of the British economy, Mr Hunt and the
Economic Secretary to the Treasury met with banking industry
leaders from Barclays, HSBC, Lloyds, NatWest, Santander UK and
the London Stock Exchange Group in Downing Street this morning to
discuss the outlook for the UK’s economic and banking
sector.
They discussed the government’s efforts to improve the
competitiveness of the UK’s financial services sector including
the Mansion House and Edinburgh Reforms, which are encouraging
growth in the UK’s capital markets, streamlining the listings
process, cementing the UK’s status as a leading global capital
markets destination, and unlocking £75 billion in equity funding
to help businesses scale up.
The Chancellor and the EST set out that the government would
continue to engage with the industry to find new and better ways
to unlock growth across the whole of the UK.
The Chancellor and the Economic Secretary to the Treasury set out
that the government would continue to engage with the industry to
find new and better ways to unlock growth across the whole of the
UK.
Banking representatives shared views on what they thought the
main opportunities were for the retail banking sector now that
we’ve turned the corner on the economy by more than halving
inflation and starting to bring down taxes to help grow the
economy. They also discussed further increasing the
competitiveness of the UK banking
sector.
The Chancellor closed the meeting by stressing importance of
ongoing conversation between industry and government and
reiterated the government’s focus on promoting the UK’s financial
services sectors competitiveness.
