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Treasury shares more detailed response to Committee report on Edinburgh Reforms

26 April 2024

The Treasury Committee has published a second response from the Treasury to its report on the progress of the Chancellor’s flagship regulatory overhaul – the Edinburgh Reforms.

The Edinburgh Reforms consist of 31 strands of work which aim to boost the financial services sector’s competitiveness following the UK’s departure from the European Union.   

The letter published today follows an initial response which the Committee published in February. Following a request by MPs for a more thorough reply to their findings, the Economic Secretary to the Treasury, Bim Afolami, has sent a more detailed letter. 

In its response, the Government continues to disagree with the Committee’s scepticism regarding whether some of the changes are likely to generate a notable economic benefit as well as the report’s conclusion that implementation of the reforms is moving too slowly. 

Chair's comment

Chair of the Treasury Committee, Dame Harriett Baldwin, said: 

“I thank the Minister for sending us a more comprehensive response to the Committee’s report on the Edinburgh Reforms. We will continue to monitor the progress and impact of this work.” 

Further information

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