Economic Secretary to the Treasury

Stephen Barclay MP

Biography

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.

Economic Secretary to the Treasury

  • 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

Previous roles in government

  1. Government Whip, Lord Commissioner of HM Treasury

    • 2016 to 2017
  2. Assistant Government Whip

    • 2015 to 2016

Announcements

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  1. Business set to benefit from new Insurance Linked Securities rules

    • News story
  2. The strategy for the future of the UK's asset management industry unveiled

    • News story
  3. FinTech to help renters get on the housing ladder

    • News story
  4. Welsh business visits Downing Street ahead of Small Business Saturday

    • Press release
  5. Industry-led review details plans to increase social impact investments in the UK

    • Press release
  6. PM meeting with European business organisations

    • Press release
  7. Over 160 firms are now signed up to the Women in Finance Charter

    • News story
  8. UK leads the way on crackdown of illicit financing

    • News story
  9. Those suffering from problem debt to get vital ‘Breathing Space’

    • News story
  10. FT Investment Management Summit Europe 2017: City minister's speech

    • Speech