Economic Secretary to the Treasury speech at UK Private Capital

The Economic Secretary to the Treasury addressed attendees at UK Private Capital in Paternoster Square, highlighting the historic role of the City of London in fostering commerce and capital. She underscored how private capital fuels business expansion, technological advancement, and employment, directly contributing to national prosperity. The speech emphasized the sector’s importance in raising living standards across the country through strategic investment decisions.

She welcomed recent political changes, including a new Prime Minister and Chancellor, while expressing her return to the role of Economic Secretary. The Secretary praised the sector’s global standing as the world’s second-largest asset management hub and most international centre, emphasizing its expertise and influence. She framed the summit’s theme of investing for a better economy as a reflection of the sector’s daily impact on the UK’s economic direction.

The Secretary outlined the government’s partnership with private capital, urging increased investment in British businesses to build the nation’s future. She committed to supporting growth and innovation, particularly in technology and AI, to maximize the UK’s competitive advantage. The speech linked these efforts to the Financial Services Growth and Competitiveness Strategy, reaffirming the government’s ongoing commitment.

She detailed progress under the strategy, including legislative reforms introduced via the Financial Services and Markets Bill. The Secretary highlighted measures to boost consumer participation in capital markets and initiatives like the ‘Invest for the Future’ campaign. She also noted the work of the Investment Management Taskforce’s Technology Working Group to improve the digital retail investment ecosystem.