As you might have seen, this month the Prime Minister asked me to serve as Economic Secretary to the Treasury and City Minister.
This is obviously a great personal honour and a good fit for me that will allow me to bring my experience from my background in financial services and the work I have done as Chair of the All-Party Parliamentary Group for Financial Markets and Services to the Treasury.
As Economic Secretary to the Treasury, I’ll be managing the Government’s financial services policy, reform, regulation, growth and competitiveness.
Financial services are a key local employer and I will now be in a great position to drive forward developments here.
I'll also be responsible for managing the Government's relationship to the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA).
These are key economic regulators; they manage the UK's regulation on banking, financial services, and insurance – they have a huge impact on you, whether it's the terms of your mortgage, what services banks can provide, or what small business owners are allowed to do with their money.
I'm also now responsible for financial inclusion - that means ensuring that people have adequate access to financial services, and are able to build wealth and access savings, whatever their background, location, or profile.
I hope that lots of people in Hitchin and the villages will feel the positive impact of that work.
And that's not to mention the work that I'll be doing on the UK Infrastructure Bank, fintech and crypto assets, capital markets, and broader cooperation with the Chancellor on this Government's economic agenda.
I was straight to work – first taking Treasury Questions from MPs the morning after I was appointed – and then getting to grips with the final stages of preparing the Autumn Statement.
We’ve been able to announce a great package of measures – including a huge increase in the National Living Wage, a big cut to National Insurance, cuts to business taxes, increases to the state pension and benefits, investing in apprenticeships and much much more.
This was an Autumn Statement for growth, but it was also one that provided vital cost of living support for those who need it most and took big steps to make work pay and ensure you can keep more of your hard-earned paycheque at the end of the month.
I might be a Minister now, but my first priority will always be the work we are doing to improve the lives of people in Hitchin, Harpenden and the villages.
I look forward to continuing to deliver for you as we shape the Government’s agenda over the coming years.
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