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Ministerial role

Economic Secretary to the Treasury

Organisations: HM Treasury
Current role holder: The Rt Hon 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. She is also responsible for some specific elements of tax policy. EST also supports the Chancellor on multilateral international policy and engagement.  

  • Specific financial services responsibilities include: 

  • Engagement with the financial services sector 

  • Financial conduct and financial stability, including relationships with the FCA and PRA 

  • Competitiveness and growth of the financial services sector 

  • Banking and consumer credit 

  • Insurance and pensions markets 

  • Financial inclusion and capability 

  • Sustainable finance 

  • Fintech, digitalisation and cryptoassets 

  • International financial services policy 

  • Cash and Payments including Royal Mint 

  • Elements of tax policy including financial services tax, ISAs and savings tax  

  • Financial sanctions and countering economic crime, including the Office for Financial Sanctions Implementation (OFSI) 

  • Supporting the Chancellor on international policy work, including: 

  • Multilateral development banks 

  • Ukraine –  financing, sanctions, economic pressure  

  • G20 presidency planning 

  • Trade 

  • Women in Finance, Women in the economy and the gender pay gap  

  • The Treasury’s interest in Overseas Territories and Crown Dependencies issues

Current role holder

The Rt Hon Lucy Rigby KC MP

Lucy Rigby MP was appointed as Minister of State (Economic Secretary to the Treasury) in HM Treasury on 21 July 2026.

She was previously Chief Secretary to the Treasury from 14 May 2026 to 21 July 2026, Parliamentary Secretary (Economic Secretary to the Treasury) at HM Treasury from 6 September 2025 to 14 May 2026 and 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. Rachel Blake MP

    2026 to 2026

  2. The Rt Hon Lucy Rigby KC MP

    2025 to 2026

  3. The Rt Hon Emma Reynolds MP

    2025 to 2025

  4. Tulip Siddiq MP

    2024 to 2025

  5. Bim Afolami MP

    2023 to 2024

  6. Andrew Griffith MP

    2022 to 2023

  7. Richard Fuller MP

    2022 to 2022