Ministerial role

Economic Secretary to the Treasury

Organisations: HM Treasury

Responsibilities

The Economic Secretary (EST) is the City Minister responsible for financial services, including:

banking and financial services reform and regulation
financial stability, including relationship with the PRA
financial conduct, including relationship with the FCA
financial services including all banking, insurance, asset management
retail financial services, including banking competition, consumer finance, financial advice and capability
bank lending and access to finance
financial Inclusion (lead on the government’s financial inclusion agenda)
access to affordable credit, including credit unions
women in finance agenda
EU financial services including EU exit and decisions as a member state
city competitiveness, including global financial markets, Global Financial Partnerships and financial services trade
green finance, Islamic finance, and Fintech
financial services taxation, including bank levy, bank corp. tax surcharge, IPT
personal savings tax and pensions tax policy
sponsorship of UKGI and State owned financial assets – RBS, UKAR
financial sanctions and countering economic crime and illicit finance
foreign exchange reserves and debt management policy, National Savings and Investments and the Debt Management Office
cash and payments including, Royal Mint
parliamentary deputy on economy issues