Ministerial role

Economic Secretary to the Treasury

Organisations: HM Treasury
Current role holder: Lucy Rigby KC MP

Responsibilities

The Economic Secretary to the Treasury (EST) is the City Minister and is responsible for:

  • Financial services policy, reform and regulation including:
    • Financial conduct, including relationship with the FCA
    • Financial stability, including relationship with the PRA
    • Competitiveness and growth of the financial services sector
    • Banking and consumer credit
    • Insurance and pensions markets
    • Financial inclusion and capability
    • Sustainable finance
    • Fintech and crypto assets, including Central Bank Digital Currency
    • International financial services including regulatory cooperation and financial services EU issues
    • Sponsorship of UKGI and State-owned financial assets, including NatWest shareholding
    • Cash and Payments including Royal Mint
    • Supporting the Chancellor on capital markets and listings
    • Women in Finance and supporting the Chancellor on the Women in the Economy agenda
  • Engagement with the Financial Services sector
  • Financial services tax, including bank levy, bank corporation tax surcharge, Insurance Premium Tax
  • Personal savings policy, including ISAs, savings tax and pensions tax policy
  • Debt and reserves management policy including green gilt, National Savings and Investment (NS&I) and Debt Management Office (DMO)
  • Financial sanctions and countering economic crime, money laundering and illicit finance, including the Office for Financial Sanctions Implementation (OFSI)
  • The Treasury’s interest in Overseas Territories and Crown Dependencies issues
  • Parliamentary deputy on economy issues

Current role holder

Lucy Rigby KC MP

Lucy Rigby MP was appointed Parliamentary Secretary (Economic Secretary to the Treasury) at HM Treasury on 6 September 2025.

She was previously Solicitor General between 2 December 2024 and 6 September 2025.

She was elected as the MP for Northampton North in July 2024.

More about this person

Previous holders of this role

  1. Emma Reynolds MP

    2025 to 2025

  2. Tulip Siddiq MP

    2024 to 2025

  3. Bim Afolami MP

    2023 to 2024

  4. Andrew Griffith MP

    2022 to 2023

  5. Richard Fuller MP

    2022 to 2022