Source · Select Committees · Treasury Committee
Recommendation 2
2
Not Addressed
Paragraph: 18
Economic growth best promoted by a strong, well-regulated, resilient financial services sector.
Conclusion
The Sub-Committee agrees with the Treasury that the UK’s regulators should consider economic growth when designing new regulations, and the best way to promote economic growth in the UK is through a strong, well respected, independently regulated, and financially resilient financial services sector.
Government response summary AI-generated
The government's response rejects any suggestion that its reforms will not significantly impact the economy or could be delivered faster, affirming confidence that its current wide-ranging package is promoting growth and competitiveness, but it does not directly address the committee's supportive conclusion.
Summary of the government's response below — read the verbatim text to verify.
Paragraph Reference:
18
Government Response
Not Addressed
HM Government · verbatim extract
Not Addressed
I particularly reject any suggestion that the reforms will not have a substantial impact on the UK economy and the competitiveness of the UK financial services sector, or that the reforms could be responsibly delivered any faster than they are progressing. ... While of course some specific measures will have a bigger economic impact than others, this wide-ranging package has been welcomed by the industry, and I am confident that the reforms are promoting growth and competitiveness the financial services sector.
Read the full response on Parliament ↗