Financial and Professional Services: Mansion House Speech
House of Commons · Written Statements · 15 Jul 2026 · 1 speech · Official Report
Last night I delivered my annual speech at the financial and professional services dinner at Mansion House. In my speech, I announced a package of further reforms to unlock investment across the country, increase access to finance for growing businesses, and position the UK at the forefront of financial innovation. The Government welcomed the outcomes of the Financial Policy Committee’s bank capital review, including reforms to the leverage framework and capital buffers that support lending while maintaining resilience. It has also published consultations on ringfencing reforms, including a new growth allowance for ringfenced banks that could unlock up to £80 billion of financing for UK businesses, as announced in May. The Government have also welcomed new figures from the Association of British Insurers showing that UK life insurers have invested £16.8 billion in UK productive assets between 2024 and the end of the first half of 2025, putting the sector on track to meet its pledge to invest £100 billion in UK productive assets over 10 years. The Government have expanded the growth guarantee scheme to facilitate around £3.35 billion of small and medium-sized enterprise lending per year by 2028-29. They also confirm that they will make up to £500 million of British Business Bank ENABLE Guarantee capacity available for lending to innovative and intellectual property-rich firms; and have announced a new UK Export Finance guarantee product, delivered in partnership with the...