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min date	2018-11-02
uin	223494
max date	2019-02-19

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1064083

human indexable

published

registered interest

answer date

21/02/2019

date

19/02/2019

date tabled

19/02/2019

ddp created

19/02/2019 18:54:59

answering body

Treasury

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Tabled

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Treasury

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19/02/2019 18:55:16
27/02/2019 16:32:02

hansard heading

Productivity

house id

identifier

223494

legislature

25259

parliament number

question first answered

27/02/2019 16:00:31

question text

To ask the Chancellor of the Exchequer, what proportion of productivity growth in the last five years can be attributed to financial technology.

session

2017/19

session number

tabling member constituency

Windsor

tabling member printed

Adam Afriyie

title

House of Commons Tabled Parliamentary Question 2017/19 223494

type

WrittenParliamentaryQuestion

uin

223494

version

written parliamentary question type

Ordinary

answer

answer

	answer text	<p>The government has not made an assessment of the proportion of productivity growth in the last five years that is attributable to financial technology.</p><p> </p><p>However, the Government has taken significant steps to increase competition in financial services, including creating an environment in which Fintech firms can grow and compete with incumbents. The Competition and Market Authority has led the Open Banking initiative, bringing more competition and innovation to financial services. The FCA has also established the Innovation Hub and Regulatory Sandbox to support Fintech, both of which are held up as global examples of best practice. Further information on the Government’s efforts to promote FinTech can be found in the FinTech Sector Strategy, published in March 2018.</p>

creator

1586

	label	Biography information for Adam Afriyie

publisher

25259

tabling member

1586

	label	Biography information for Adam Afriyie