Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

UK Finance Urges Post-Election Government to Prioritise Growth and Fraud Prevention

by May 31, 2024
May 31, 2024
UK Finance Urges Post-Election Government to Prioritise Growth and Fraud Prevention

UK Finance, the prominent banking trade association, has issued a call to action for the incoming government to implement policies that will spur economic growth and enhance financial engagement.

Their financial services manifesto outlines key initiatives aimed at addressing critical issues such as financial education, fraud prevention, and support for net-zero investments.

A major proposal from UK Finance is the integration of financial education into the school curriculum. According to their findings, a significant 80 per cent of voters support improved financial education for students. The trade body believes that instilling financial literacy at a young age will build a more informed and financially capable populace.

Furthermore, UK Finance advocates for the establishment of a cross-government task force dedicated to tackling financial abuse. This initiative aims to provide a coordinated approach to addressing and mitigating financial crimes, ensuring stronger protections for consumers and businesses alike.

Addressing the pervasive issue of fraud, UK Finance has called for technology, social media, and telecom companies to share the burden of combating economic crime. This follows the introduction of mandatory reimbursement rules by the payments watchdog for cases of authorised push payment fraud. The association argues that these industries should contribute to the costs associated with fraud prevention and reimbursement.

Additionally, UK Finance is pressing for legislative changes to ensure that information held by Companies House is thoroughly verified and reliable. The urgency of this request is underscored by recent incidents where 800 fraudulent forms were submitted, affecting 190 companies, including members of UK Finance.

In alignment with the UK’s environmental goals, the trade body is advocating for clearer plans regarding the net-zero transition. They have requested a comprehensive roadmap for investments in key sectors and expanded authority for the UK Infrastructure Bank to fund net-zero projects. This move is seen as vital for securing sustainable economic growth and achieving environmental targets.

To bolster economic growth, UK Finance has proposed the appointment of a government champion for competitiveness. This role would involve reviewing and potentially reducing the regulatory burden on the financial services sector. Additionally, the trade body supports the creation of a new digital gilt backed by the Treasury, aimed at modernising the financial infrastructure.

David Postings, Chief Executive of UK Finance, expressed hope that by outlining these policy priorities, the sector could collaborate effectively with the government to foster a thriving society. “By working in partnership with the government, we can help build a better society for all,” Postings stated.

As the UK approaches the next election, UK Finance’s comprehensive policy agenda highlights the essential areas where government intervention and collaboration with the financial sector can drive significant positive outcomes for the economy and society.

Read more:
UK Finance Urges Post-Election Government to Prioritise Growth and Fraud Prevention

0
FacebookTwitterGoogle +Pinterest
previous post
S&P 500 Sinks on Software and Semiconductor SELLOFF
next post
Business Confidence Soars to Decade-High as Economy Stabilises Under Sunak

You may also like

How To Build a People-First Culture of Connection

November 10, 2022

CCI Kenya on the benefits of outsourcing administration...

June 27, 2023

Rotem Farkash: The UK can become ‘AI’s dark...

February 11, 2025

Business Champion Awards triumph for coach Polston

March 30, 2023

The unsung hero for SMEs: Why invoice finance...

May 25, 2023

Wealth Club members invest £1 million under EIS...

August 26, 2022

Meta delays AI launch in UK and EU...

September 26, 2024

BA pilots on brink of three-year pay deal...

October 6, 2023

Twelve engineering companies participate in pilot Academy programme...

July 18, 2023

Fitness tech start-up secures new £5 million to...

November 27, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • MARK HALPERIN: Democrats try to construct a Frankenstein candidate while JD Vance gains momentum for 2028

      June 6, 2025
    • ‘Gone too far’: GOP lawmakers rally around Trump after Musk raises Epstein allegations

      June 6, 2025
    • Democrats begin to embrace Musk amid Trump spat after party railed against him as a ‘dictator’

      June 6, 2025
    • Trump administration defends US and Israeli sovereignty with new sanctions against four ICC judges

      June 5, 2025
    • Musk unleashes wild Epstein claim against Trump after being booted from DOGE

      June 5, 2025
    • Three Charts Showing Proper Moving Average Alignment

      June 5, 2025

    Categories

    • Business (8,149)
    • Investing (2,011)
    • Politics (15,543)
    • Stocks (3,129)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved