Grant Shapps – 2016 Parliamentary Question to the HM Treasury
The below Parliamentary question was asked by Grant Shapps on 2016-09-15.
To ask Mr Chancellor of the Exchequer, what support he is providing to Fintech after the vote to leave the EU.
Simon Kirby
The UK is recognised as the world’s leading FinTech capital, with recent reports such as EY’s ‘UK FinTech: on the cutting edge’ and Deloitte’s ‘Connecting Global FinTech: Hub Review 2016’ placing the UK and London as the number one location for FinTech in the world.
The government is determined to continue to help support UK FinTech firms as they innovate and grow, and wants to ensure that the UK remains the location of choice for FinTech firms. As such, we are continuing to implement a range of our previously announced policies which are designed to reduce barriers to entry for FinTechs, help industry accelerate the development of key FinTech initiatives and ease access to foreign markets. We are also assessing other initiatives which can further help support the growth of UK FinTech, in consultation with the industry.
In July, we launched our second FinTech Bridge with the Republic of Korea – increasing the opportunities for trade and investment between our two nations on FinTech, and deepening regulatory and government collaboration.
Following the vote to leave the European Union, the government is engaging extensively with the sector. I will be meeting with the sector this month to discuss what they are looking for out of the European negotiations, and what more the government can do in the short and medium term to support the sector.
