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My right honourable friend the Chancellor of the Exchequer (Jeremy Hunt) has today made the following Written Ministerial Statement.
On 10 July 2023, I set out in a speech at Mansion House the government’s progress in delivering a financial services sector that is globally competitive, while retaining our commitment to high international standards.
Building on the Edinburgh Reforms announced in December 2022, the Mansion House reforms will enable our financial services sector to unlock capital for our most promising industries and increase returns for savers, supporting growth across the wider economy.
Firstly, I announced a series of measures to boost outcomes for savers and increase funding liquidity for high-growth companies through reforms to the UK’s pension market.
Secondly, I set out ways the government is incentivising companies to start and grow in the UK by strengthening our position as a listing destination.
And finally, I set out the government’s action to seize the opportunities of the future by reforming and simplifying our financial services rulebook to ensure we have the most growth-friendly regulation of any financial services centre.
These plans have the potential to increase retirement income by over a £1,000 a year over the course of a career and unlock up to £75 billion of additional investment from defined contribution and local government pensions.
The full list of the measures launched at Mansion House, along with supporting technical documents, can be found on GOV.UK:
https://www.gov.uk/government/collections/mansion-house-2023
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