The Financial Services Skills Commission is leading the development of a skills compact for financial services. The compact will accelerate progress towards a sector that has the skills it needs to thrive into the future.

HM Treasury launched its Financial Services Growth and Competitiveness Strategy on 15 July 2025. As part of the publication, the Treasury announced that the Commission will lead the development of the skills compact.

Targeted, meaningful and ambitious

The challenges faced by the sector must be addressed by both industry and government working together. That’s why we will steer production of the compact, working in collaboration with the TheCityUK, the City of London Corporation, and Skills England. The compact will be targeted, meaningful and ambitious, and set out specific actions for signatories to address skills gaps. The long-term support of government will be a key enabler to achieving the intent of the compact.

A sector-wide partnership

To deliver the compact, we will form a steering group, representative of our membership and the sector as a whole. We will be joined by the City of London Corporation and TheCityUK, as well as a senior representative from HM Treasury and Skills England. The group will be chaired by our chair, Mark Hoban.

Next steps

We are currently working with stakeholders to agree next steps on development of the compact. The Treasury has indicated that it hopes to see publication of the compact in summer 2026.