Rachel Reeves will meet leading fintech executives on Tuesday in the Treasury’s latest effort to generate economic growth ideas from the private sector ahead of her spring statement.
Sky News has learnt that bosses from Revolut, Stripe, Wise and Zilch will be among those attending the latest in a blizzard of roundtable events hosted by the chancellor.
The summit at 11 Downing Street will come a day after Ms Reeves summoned regulators for fresh talks on abolishing red tape in a bid to drive growth.
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Sources said the fintech executives had been asked to come “armed with ideas about how to improve UK competitiveness” with the economy having unexpectedly contracted in January.
Tuesday’s meeting will also be attended by Emma Reynolds, the economic secretary to the Treasury.
The agenda will include discussing major growth opportunities for fintechs during the next decade, as well as challenges facing the sector.
It will follow similar meetings with executives from retail and investment banks, as well as asset managers, as officials prepare the inaugural financial services growth and competitiveness strategy.
That document is expected to be published in the coming months.
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“Growth is the number one mission in our Plan for Change in order to put more money into people’s pockets,” a Treasury source said on Monday.
“Fintech is the future of financial services, with huge potential to help people and businesses across the UK, and we will work hand-in-hand with the sector to drive its growth through the upcoming Financial Services Growth and Competitiveness Strategy.”
