Mark Garnier

Mark Garnier

Conservative — Wyre Forest

Speaking in the House of Commons on 28 April 2026

Debate

Global Trade: Support for Businesses

Contribution

The Economic Secretary to the Treasury will know that our financial services industry is a shining example of our international economic might. However, overinterpretation of rules and regulations has led to banks being nervous of taking risks, and that has slowed growth in the City and holds up international trade. For example, overinterpretation of anti-money laundering rules means that foreign inward remittances can take up to two weeks to clear into a UK bank account, while poor classification of risk-rated assets potentially starves businesses of growth debt capital. Will the Economic Secretary please assure the House that this ever-unnecessary tightening of the rules will be addressed in the financial services Bill, due to be announced in the King’s Speech?

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