Source · Select Committees · Treasury Committee
Recommendation 9
9
Acknowledged
Paragraph: 73
In designing the new secondary objective, there should also be some consideration for the ways...
Conclusion
In designing the new secondary objective, there should also be some consideration for the ways in which financial services serve the ‘real economy’. The financial services industry can help deliver economic growth not simply by growing itself but also by facilitating economic growth by providing capital, credit, insurance and other services to firms in the ‘real economy’.
Government response summary AI-generated
The government notes the recommendation and states that new secondary objectives for the FCA and the PRA introduce a new focus within the regulatory framework on the medium to long-term growth and competitiveness of the UK economy.
Paragraph Reference:
73
Government Response
The government responded to this report on 7 September 2022. No passage in that response could be matched to this conclusion. Read the response document ↗