Economic Secretary to the Treasury
Responsibilities
The Economic Secretary to the Treasury is the City Minister and is responsible for financial services.
- Financial services policy, reform and regulation including:
- Financial conduct, including relationship with the FCA
- Financial stability, including relationship with the PRA
- Competitiveness and growth of the financial services sector
- Financial inclusion
- Islamic finance, Fintech, and Crypto assets, including Central Bank Digital Currency
- International financial services (excluding input to DIT FTAs) including regulatory cooperation, the Swiss Mutual Recognition Agreement, EU issues
- Sponsorship of UKGI and State-owned financial assets, including NatWest shareholding
- Cash and Payments including Royal Mint
- Financial services tax, including bank levy, bank corporation tax surcharge, Insurance Premium Tax
- Personal savings tax and pensions tax policy
- Foreign exchange reserves and debt management policy (including green gilt), National Savings and Investment, Debt Management Office
- Parliamentary deputy on economy issues
- Supporting the Chancellor with her overall responsibility for appointments
Current role holder
Tulip Siddiq MP
Tulip Siddiq was appointed Parliamentary Secretary (Economic Secretary to the Treasury and City Minister) at HM Treasury on 9 July 2024. She was elected as the MP for Hampstead and Highgate in July 2024.
Previous holders of this role
-
Bim Afolami MP
2023 to 2024
-
Andrew Griffith MP
2022 to 2023
-
Richard Fuller MP
2022 to 2022