Responding to the speech, Claire Tunley, Chief Executive Officer, Financial Services Skills Commission, said, “It is great to hear the Chancellor set out a compelling strategy to boost the global competitiveness of UK financial services. The sector’s future skills needs are a central part of this, and it’s good to see this and our work recognised in his strategy.

“Technological transformation is already disrupting the financial services sector and requires specific tech skills to meet this growing demand. This will only increase with further innovation and digitisation. Tackling this skills gap and boosting the supply of relevant skills is essential to ensure the sector’s future success. Ensuring the sector can attract the best global talent is one route; bolstering the skills pipeline across the UK is also critical.”

The Financial Services Skills Commission is working to increase and diversify the supply of skills into the sector. It has created a Future Skills Framework – a statement of the future skills that the sector needs; and a report, ‘Skills for Future Success’ that sets out an eight-point plan to deepen the pool of talent in the UK’s regions and nations, benefitting firms of all size