The Chancellor of the Exchequer is visiting Leeds today where she will announce a new support system for financial services.

Rachel Reeves is visiting Leeds on Friday, October 24 to announce a new 'bespoke' support system called 'Scale-up Unit'. The system is designed to help financial services "navigate rules and regulations" to help them grow as part of the Government's modern Industrial Strategy.

The Scale-up unit is to help bankers, insurers and fintech firms to expand faster while also creating well-paid jobs and attracting new investment. It will also work with other scaling financial service firms like fintechs from early next year, and will give a clear point of contact with the Financial Conduct Authority and Prudential Regulation Authority for businesses.

This means that firms will get timely responses to regulatory queries and access to expert support. It is hoped that this will allow business owners to focus on developing new products, hiring staff, and bringing investment into local economies

Chancellor of the Exchequer Rachel Reeves said: “I am proud to be back in...