UK Finance has published its 9 point Plan for Growth to show how the financial services sector can help with delivery of the Government’s economic growth ambitions. The 9 point plan focuses on:
- reducing bank capital requirements to give additional lending capacity and lower borrowing costs;
- completing redress reform;
- removing barriers – be they regulatory, supervisory or tax, to free firms to focus on activities driving growth;
- supporting payments modernisation and innovation;
- transforming financial and capital markets;
- strengthening fraud obligations on tech and telecoms firms;
- increasing SME lending through government-backed support services such as the Growth Guarantee Scheme;
- broadening financial inclusion for individuals and households; and
- mobilising finance to build. retrofit and unlock housing.
It notes the effects of changes already made – saying that 18% more first time buyers got on the housing ladder in 2025 than in the previous year, helped by mortgage rule reform.