CBI response to Chancellor financial services speech

Rain Newton-Smith, CBI Chief Economist, said:

“Tackling climate change through the UK’s world-renowned financial services sector – while boosting competitiveness - matters hugely for our economy.

“Reaching an agreement with the EU is of critical importance. It will help businesses prepare and catalyse confidence by making outstanding issues, including data adequacy and regulatory equivalence, easier to resolve.

“Leading the way on sustainable finance initiatives, like green gilts, can drive progress towards net zero, helping fuel a sustainable recovery.

“And active dialogue between enterprise and government can ensure smarter regulation - meeting the highest standards - along with new reporting requirements underline the UK’s status as a place to invest.”