Ministerial role

Financial Secretary to the Treasury and City Minister

Organisations: HM Treasury
Current role holder: Andrew Griffith MP

Responsibilities

The Financial Secretary (FST) is responsible for financial services (FS), including:

  • banking and financial services reform and regulation
  • financial stability, including relationship with the PRA
  • financial conduct, including relationship with the FCA
  • financial services including all banking, insurance (including Solvency II reform), asset management
  • retail financial services, including banking competition, consumer finance, financial advice and capability
  • bank lending and access to finance, including mortgages
  • capital markets and listings
  • financial Inclusion (lead on the government’s financial inclusion agenda)
  • access to affordable credit, including credit unions
  • women in finance agenda
  • International Financial Services including FS trade issues and engagement, Swiss MRA, and EU relationship issues
  • city competitiveness
  • green finance, Islamic finance, Fintech, and Cryptoassets, including CBDCs
  • financial services taxation, including bank levy, bank corp. tax surcharge, IPT
  • personal savings tax and pensions tax policy
  • investment Tax reliefs including EIS, SEIS, and VCTs
  • sponsorship of UKGI and State owned financial assets – including NatWest shareholding
  • Financial Sanctions and countering economic crime and illicit finance, including OFSI
  • foreign exchange reserves and debt management policy, National Savings and Investments
  • Debt Management Office
  • Public Works Loan Board
  • UK Infrastructure Bank
  • Cash and Payments including Royal Mint
  • parliamentary deputy on economy issues

Current role holder

Andrew Griffith MP

Andrew Griffith was appointed Financial Secretary to the Treasury on 7 September 2022.

He was previously Parliamentary Under Secretary of State for the Department for International Trade between 8 July 2022 and 7 September 2022.

He was Parliamentary Secretary (Minister for Policy and Head of the Prime Minister’s Policy Unit) from 3 February 2022 until 8 July 2022.

He was appointed Adviser on Sustainable Infrastructure Investment from September 2021 until the end of December 2021.

He was the UK’s Net Zero Business Champion from November 2020 until the end of the Cop26 UN Climate Summit.

He was elected Conservative MP for Arundel and South Downs in 2019.

More about this person

Previous holders of this role

  1. The Rt Hon Lucy Frazer KC MP

    2021 to 2022

  2. The Rt Hon Jesse Norman MP

    2019 to 2021

  3. The Rt Hon Mel Stride MP

    2017 to 2019

  4. Jane Ellison

    2016 to 2017

  5. The Rt Hon David Gauke

    2014 to 2016

  6. The Rt Hon Baroness Nicky Morgan

    2014 to 2014

  7. The Rt Hon Sajid Javid MP

    2013 to 2014

  8. The Rt Hon Greg Clark MP

    2012 to 2013

  9. Mark Hoban

    2010 to 2012