Statement from Governor Andrew Bailey

Statement from Governor Andrew Bailey in response to the Chancellor’s statement on the future of UK financial services.
Published on 09 November 2020

“A strong and secure future for the financial services industry in the UK is a vital interest for all who rely upon those services, both in this country and across the world. The Chancellor’s statement today demonstrates the Government’s commitment to ensuring our financial centre remains open to the world, at the forefront in developing the ideas that will serve the UK and global economy long into the future. 

The Bank of England welcomes the Government’s decision to issue its first Sovereign Green Bond, which further underlines the UK’s commitment to combatting climate change – as does the Chancellor’s announcement that he will make disclosures related to climate change risk mandatory for firms by 2025. We also welcome the Chancellor’s announcement that the UK, together with its international partners, will press ahead with work on central bank digital currencies, as we seek ways to make payments ever safer and more efficient.

We look forward to working with the Government and Financial Conduct Authority on the package of measures announced today.”

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