Ministerial role

Economic Secretary to the Treasury (City Minister)

Responsibilities

Responsibilities include financial services policy and overall strategic relationship with UK financial services, including:

  • banking and financial services reform and regulation (at home and in the EU) including the PRA
    • financial stability
    • City competitiveness
    • bank lending and access to finance
    • Help to Buy
    • financial conduct and the FCA
    • asset management
  • RBS, Lloyds and UKFI
  • bank taxes
  • asset freezing and financial crime
  • retail financial services, including consumer finance, financial advice and capability, working with the DWP Pensions Minister
  • Equitable life
  • delivery of pensions reforms
  • foreign exchange reserves and debt management policy, National Savings and Investments and the Debt Management Office
  • departmental minister for HM Treasury Group
  • women in the economy
  • parliamentary deputy on economy issues

Current role holder: Harriett Baldwin MP

Harriett Baldwin was appointed Economic Secretary to the Treasury (City Minister) 11 May 2015.

Political career

Harriett was elected as the Member of Parliament for West Worcestershire in May 2010, where she has lived since 2006. She was appointed to become the Prime Minister’s Trade Envoy to Russia before joining the government in February 2014 as Assistant Government Whip. In the July 2014 reshuffle she was promoted to Lord Commissioner.

Career outside politics

Harriett has enjoyed a successful 20 year career in finance, specialising in currency markets for pension funds. She was also on the National Council of Business for Sterling.

Personal life.

Harriett is married to Jim Baldwin, a businessman and television producer. Together they have two daughters and a son.

Previous holders of this role

  1. Andrea Leadsom MP

    • 2014 to 2015
  2. The Rt Hon Nicky Morgan MP

    • 2013 to 2014
  3. The Rt Hon Sajid Javid MP

    • 2012 to 2013
  4. Chloe Smith

    • 2011 to 2012
  5. The Rt Hon Justine Greening MP

    • 2010 to 2011

Policies

  1. Access to financial services
  2. Bank regulation
  3. Consumer credit market
  4. Financial services regulation

Announcements

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  1. Economic Secretary on consumer confidence and empowerment as a driver for growth

    • 30 June 2015
    • Speech
  2. Government consults on EU Payment Accounts Directive

    • 23 June 2015
    • News story
  3. Equitable Life Payments Scheme payouts pass £1.06 billion

    • 23 June 2015
    • News story
  4. Economic Secretary on restoring trust in the financial system

    • 17 June 2015
    • Speech
  5. Chancellor presses industry on pension freedoms

    • 17 June 2015
    • News story
  6. £500k to help armed forces personnel access credit union services

    • 26 March 2015
    • News story
  7. Economic Secretary seeks agreement on further action to address bank de-risking

    • 26 March 2015
    • News story
  8. Is your bank giving you the best deal? Find out using new online comparison tool

    • 26 March 2015
    • News story
  9. Banks agree protocol on branch closures

    • 26 March 2015
    • Press release
  10. Making Britain the Western RMB hub - government hails next step

    • 25 March 2015
    • News story