GBBC Summits Response to HM Treasury
Published
GBBC appreciates HM Treasury’s initiative to develop a growth plan for the UK’s financial services sector. Our response emphasizes the importance of fostering innovation, improving regulatory frameworks, and addressing broader ecosystem factors to ensure the UK remains competitive globally.
We focused on identifying key barriers to growth, such as the need for streamlined regulatory processes, enhanced support for startups, and the importance of proportional frameworks for fostering innovation. We also draw on experiences from other jurisdictions, such as the Middle East and EU countries, and their regulatory pathways, offering lessons for the UK to enhance its appeal to global firms. Additionally, we outlined how sandboxes could be made more effective. We hope that by addressing these challenges, particularly in areas such as digital assets, tokenization, and AI-driven solutions, the UK can position itself as a global leader in financial services.
We are grateful to our members for their contributions and would welcome the opportunity to discuss our response further with HM Treasury.