Speeches by Glen.

“What should the Economic Secretary to the Treasury ask UK Finance, though?”

“Do you think the FCA is being proactive enough in getting into the minutiae on this specific area?”

“So you will establish best practice and then perhaps give an indication as to where the money should go.”

“What can you do? What is your contribution?”

“Ms Undy, do you have anything on this, particularly from a mental health perspective? As a Minister, I did some work with you on help for people in debt. Perhaps we will come on to that in a moment, but is there anything in the space of financial education that—”

“Before I start my questions, I declare that I am a member of the Financial Inclusion Commission and co-chair of the APPG on financial education for young people. That is a topic I want to address, and I will address my question to Ms Highman. The strategy makes financial inclusion compulsory. That will be done, as has …”

“You are not assured at the moment that that money is being allocated directly?”

“Finally, given what the strategy has done on financial education and capability and what it has said, what should be the Economic Secretary to the Treasury’s ask of UK Finance? I think it is Eric Leenders. What should she be asking him and the banks?”

“I know that the panel has a lot of expertise in this subject. Ms Pender, is there anything you would like to say on it?”

“I welcome the targeted nature of these measures, but three weeks ago it looked like inflation was going to return to the level that the right hon. Lady inherited when she took office in July 2024. That is no longer going to happen, but we are now seeing it the cost of borrowing. Given that we are spending well over £10…”

“Professor Pill, the Monetary Policy Report’s analysis says that 40% of UK workers are employed using bargaining firms that pay collectively and react more slowly to inflation, so you have a situation where a significant portion of the workforce are people who are keeping the expectation higher. You said you draw differ…”

“Five years ago, at Mansion House, the Chancellor at the time, Rishi Sunak, said that we would be “watching closely the key debates in finance and tech, like the opportunities of distributed ledger technology in capital markets”. Last Wednesday, Reuters published an article, “Nasdaq receives SEC nod for trading in token…”

“In summary, you can do so much, but the industry has to be alongside you and committed at the same pace as you.”

“Just on that quickly, you have been Private Secretary to Prime Ministers. You have been the chief executive of the London Stock Exchange. You are now five or six years into being the chief executive of our financial regulator. How do we fix that? You have diagnosed the problem: it is the speed of getting legislation th…”

“Professor Taylor, do you want to comment? Do you have a different view?”

“If they were excluded from the process, as some of our colleagues in the House would want, what would that mean for the FCA?”

“About 20% of Palantir’s employees are in the UK anyway, are they not? They have a significant presence. It is not like we are outsourcing it to California.”

“They were best in class.”

“Do you have any assurances around where members of staff and data centres would be based vis-à-vis this proof of concept?”

“Palantir provokes strong reactions for a variety of reasons. We do not need to get into that, but what we do need to understand, probably, is why they win these contracts. They have won, so they were the best that was out there in the market. Some say that we should prioritise other providers on principle because Palan…”