Economic Secretary to the Treasury

Tulip Siddiq MP

Biography

Tulip Siddiq was appointed Parliamentary Secretary (Economic Secretary to the Treasury and City Minister) at HM Treasury on 9 July 2024. She was elected as the MP for Hampstead and Highgate in July 2024.

Economic Secretary to the Treasury

The Economic Secretary to the Treasury (EST) is the City Minister and is responsible for:

  • Financial services policy, reform and regulation including:
    • Financial conduct, including relationship with the FCA
    • Financial stability, including relationship with the PRA
    • Competitiveness and growth of the financial services sector
    • Banking and consumer credit
    • Insurance and pensions markets
    • Financial inclusion and capability
    • Sustainable finance
    • Fintech and crypto assets, including Central Bank Digital Currency
    • International financial services including regulatory cooperation and financial services EU issues
    • Sponsorship of UKGI and State-owned financial assets, including NatWest shareholding
    • Cash and Payments including Royal Mint
    • Supporting the Chancellor on capital markets and listings
    • Women in Finance and supporting the Chancellor on the Women in the Economy agenda
  • Engagement with the Financial Services sector
  • Financial services tax, including bank levy, bank corporation tax surcharge, Insurance Premium Tax
  • Personal savings policy, including ISAs, savings tax and pensions tax policy
  • Debt and reserves management policy including green gilt, National Savings and Investment (NS&I) and Debt Management Office (DMO)
  • Financial sanctions and countering economic crime, money laundering and illicit finance, including the Office for Financial Sanctions Implementation (OFSI)
  • The Treasury’s interest in Overseas Territories and Crown Dependencies issues
  • Parliamentary deputy on economy issues

More about this role

HM Treasury