Rachel Reeves will meet main fintech executives on Tuesday within the Treasury’s newest effort to generate financial progress concepts from the personal sector forward of her spring assertion.
The summit at 11 Downing Road will come a day after Ms Reeves summoned regulators for recent talks on abolishing pink tape in a bid to drive progress.
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Sources mentioned the fintech executives had been requested to return “armed with ideas about how to improve UK competitiveness” with the economic system having unexpectedly contracted in January.
Tuesday’s assembly can even be attended by Emma Reynolds, the financial secretary to the Treasury.
The agenda will embrace discussing main progress alternatives for fintechs throughout the subsequent decade, in addition to challenges dealing with the sector.
It would observe comparable conferences with executives from retail and funding banks, in addition to asset managers, as officers put together the inaugural monetary companies progress and competitiveness technique.
That doc is anticipated to be revealed within the coming months.
“Growth is the number one mission in our Plan for Change in order to put more money into people’s pockets,” a Treasury supply mentioned on Monday.
“Fintech is the future of financial services, with huge potential to help people and businesses across the UK, and we will work hand-in-hand with the sector to drive its growth through the upcoming Financial Services Growth and Competitiveness Strategy.”
