Ministerial role

Economic Secretary to the Treasury

Responsibilities

  • 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
  • personal savings tax and pensions tax policy
  • insurance
  • asset management
  • Women in Finance Charter
  • UKFI and state owned financial assets – RBS, UKAR
  • sponsorship of UKGI and sale of government non-financial assets
  • asset freezing and financial crime
  • financial inclusion (lead on the government’s financial inclusion agenda)
  • Equitable Life
  • foreign exchange reserves and debt management policy, National Savings and Investments and the Debt Management Office
  • parliamentary deputy on economy issues

Current role holder: Stephen Barclay MP

Stephen Barclay was appointed as Economic Secretary to the Treasury on 14 June 2017.

He served as a Government Whip (Lord Commissioner of HM Treasury) from 17 July 2016 to 14 June 2017. He was elected Conservative MP for North East Cambridgeshire in May 2010.

Education

Stephen was educated at King Edward VII School in Lytham St. Annes Lancashire before reading history at Peterhouse, Cambridge. He later studied law at the College of Law, Chester.

Political career

From 2010 to 2014 Stephen served on the Public Accounts Committee which scrutinises government spending. Stephen served as Assistant Government Whip from May 2015 until July 2016.

Career outside politics

Stephen qualified as a solicitor in 1998. He worked as an insurance company lawyer for Axa Insurance, as a regulator for the Financial Services Authority, and as Director of Regulatory Affairs and then Head of Anti-Money Laundering and Sanctions at Barclays Retail Bank.

Personal life

Stephen is married and has 2 children.

Announcements

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  1. FT Investment Management Summit Europe 2017: City minister's speech

    • Speech
  2. Help to Buy supports over 320,000 people in buying their own home

    • News story
  3. UK government launches plan to accelerate growth of green finance

    • Press release
  4. Co-operatives to save money thanks to change in audit requirements

    • News story
  5. Tough new measures to protect savers from pension scams

    • News story
  6. One million Help to Buy: ISAs opened

    • News story
  7. Matchmaking scheme helps businesses find £4 million of finance

    • News story
  8. New powers to introduce tough sanctions against individuals, organisations and foreign governments

    • Press release
  9. Chancellor in Brazil and Argentina to boost economic and trade ties

    • News story
  10. New watchdog to close money laundering and terrorist financing loopholes

    • News story