Financial Services

The financial services sector is one of the UK's largest and most productive – worth around 8% of total economic output in 2025 and an enabler of growth across the whole economy. People and businesses rely on the sector every day, from securing mortgages and managing pensions to raising capital and accessing lending.

The Financial Services Sector Plan sets out how government and industry will work together to maintain and strengthen the UK's position as a global financial centre – modernising regulation, unlocking investment, and making sure the benefits of a world-leading sector are felt in every part of the country. By 2035, our ambition is for the UK to be the world's most innovative full-service financial centre.

The sector is entering a period of rapid transformation, reshaping how capital is mobilised and deployed. By creating the conditions for firms to scale and invest, government is leveraging financial services as a key enabler for frontier industries and the wider economy.

What this means in practice:

• First FCA/PRA Scale-Up Unit cohort announced in February 2026, providing dedicated support to six fast-growing dual-regulated firms – enabling entrepreneurs to focus on developing new products, hiring staff, and bringing investment into local economies.
• PISCES first trading events successfully completed in March 2026, providing growing companies an alternative route to raise capital without the cost and complexity of a full public listing.
• Pension Schemes Act passed, consolidating fragmented pension schemes into larger, better-performing funds capable of investing more effectively – mobilising £50 billion in long-term capital for UK businesses and infrastructure.
• Berne Financial Services Agreement now live, allowing UK financial firms to register for cross-border wholesale Swiss market access.
• Northern Square Mile in Leeds backed through a dedicated Office for Investment Financial Services concierge, actively promoting Leeds as a destination for global financial services businesses.
• New Public Offers and Admissions to Trading Regulations reducing capital-raising costs and making it easier for firms to admit securities to UK markets.

These are not one-off decisions. They are part of a long-term plan giving financial services businesses the confidence to invest, hire, and grow.

Sector Plan

A targeted mix of support for the sector

Support for your financial services business

Whether you are a fintech startup, a growing asset manager, or an established financial institution looking to expand, there is a range of support available to help you grow.

• FCA/PRA Scale-Up Unit
  The joint Financial Conduct Authority and Prudential Regulation Authority Scale-Up Unit provides dedicated regulatory support for banks, building societies and financial firms looking to scale. Helping you navigate the regulatory landscape step by step.
  Scale-Up Unitopens www.fca.org.uk in a new tab

• British Business Bank
  Investment support for high-growth financial services and fintech firms through its £4 billion IS Growth Capital programme — helping businesses start, scale and secure private investment.
  Find out moreopens www.british-business-bank.co.uk in a new tab

• UK Export Finance (UKEF)
  Helping UK financial services businesses compete and win in global markets, supporting firms to seize large-scale international opportunities.
  UKEFopens www.ukexportfinance.gov.uk in a new tab

• Office for Investment — Financial Services concierge
  Dedicated support to help global financial services businesses invest and locate in the UK, including in regional clusters such as the Northern Square Mile in Leeds.
  More informationopens www.gov.uk in a new tab