Ministerial role

Economic Secretary to the Treasury

Responsibilities

The Economic Secretary (EST) is responsible for:

  • banking and financial services reform and regulation
    • financial stability, including relationship with the PRA
    • financial conduct, including relationship with the FCA
  • EU exit financial services
  • City competitiveness, including Financial Services Trade and Investment Board
  • retail financial services, including banking competition, consumer finance, financial advice and capability
  • bank lending and access to finance
  • financial services taxation, including bank levy, bank corp. tax surcharge, IPT
  • personal savings tax and pensions tax policy
  • insurance
  • asset management
  • Women in Finance Charter
  • sponsorship of UKFI and state owned financial assets – RBS, UKAR
  • sponsorship of UKGI and sale of government non-financial assets
  • financial sanctions and anti-money laundering
  • financial inclusion (lead on the government’s financial inclusion agenda)
  • Equitable Life
  • foreign exchange reserves and debt management policy, NS&I and the Debt Management Office
  • parliamentary deputy on economy issues

Current role holder: John Glen MP

John Glen was appointed Economic Secretary to the Treasury and City Minister on 9 January 2018.

He was Parliamentary Under Secretary of State for the Department for Culture, Media and Sport from 14 June 2017 to 8 January 2018.

He was Parliamentary Private Secretary to Philip Hammond from July 2016 until June 2017.

Political career

John Glen MP was first elected to Parliament as the MP for Salisbury in 2010.

He previously worked for the Eric Pickles and Sajid Javid as a Parliamentary Private Secretary.

Previous holders of this role

  1. Simon Kirby

    • 2016 to 2017
  2. Harriett Baldwin MP

    • 2015 to 2016
  3. The Rt Hon Andrea Leadsom MP

    • 2014 to 2015
  4. The Rt Hon Nicky Morgan

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

    • 2012 to 2013
  6. Chloe Smith MP

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

    • 2010 to 2011

Announcements

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  1. The CityUK Conference 2018: Economic Secretary speech

    • Speech
  2. Dormant Assets Scheme bolstered by industry leaders

    • Press release
  3. Tougher regulation for funeral plan providers

    • News story
  4. Britain bites back in the fight against loan sharks

    • News story
  5. City minister: Innovate Finance Global Summit speech

    • Speech
  6. First meeting of the Financial Inclusion Policy Forum

    • News story
  7. Prime Minister backs women in finance as Charter tops 200 signatories

    • News story
  8. Independent Review of the Co-operative Bank Launched

    • News story
  9. New accountability rules for insurers

    • News story
  10. UK launches new anti-money laundering watchdog

    • News story