The Liberal Democrat manifesto, published on 10 June, includes several commitments in relation to the financial services sector, such as:
- expanding the British Business Bank to perform a more central role in the economy, to ensure that viable SMEs have access to capital and to help it to “crowd-in” private investment, particularly in zero-carbon products and technologies;
- a new national financial inclusion strategy, with the FCA and PRA to have regard to financial inclusion – such as protecting access to cash, supporting banking hubs, expanding access to bank accounts, delivering Sharia-compliant student finance and supporting vulnerable customers;
- naming and shaming banks with the worst records on preventing fraud and reimbursing victims, requiring mandatory reimbursement of APP fraud victims unless there is clear evidence the victim was at fault and improving public awareness of frauds and scams, including making reporting easier; and
- fixing the UK’s relationship with Europe with the ultimate aim of joining the single market;
- properly resourcing the NCA; and
- effectively using the sanctions regime to tackle economic crime