In amongst all of the excitement in Westminster around votes, amendments, and new legislation, it's important not to lose sight of the quiet work that the Government does on a day to day basis to drive forward your priorities and to move the UK towards the economy of the future. As Economic Secretary to the Treasury, I spend a lot of my time thinking about fintech and innovation in the world of financial services, and how leaps forward in technology can benefit consumers, including here in Hitchin & Harpenden. Last week was UK Tech Week, and so I wanted to take this opportunity to highlight some of the steps that this Government is taking to ensure that consumers benefit from new technological innovations, enabling greater financial freedom and powering the economic growth that we need.
Whether we think of ourselves as consumers of financial services or not, we all benefit from innovation in the financial services space. At a basic level, we all benefit from improvements to payment systems, which make it easier, faster, and cheaper to send money to friends and colleagues across the world - that's why we're working with the UK Payment Systems Regulator to make the most of new technology, ensuring that we maximise the enormous potential upside of consumer-facing improvements to payment systems.
New ways of thinking about financial services are also opening up new ways for consumers to save, invest, and spend their money - whether that's by providing new online resources that allow consumers to budget more effectively, or by opening up the commercial opportunities presented by fintech. On Wednesday, I sat down with the campaigners behind The Investing and Saving Allowance's Inclusive Investing Campaign to HM Treasury. We discussed the importance of making retail investing more accessible, including how to support more women take their first steps into investing and build their wealth. I was also delighted to sit down for a fireside chat hosted by Coinbase, with former Chancellor of the Exchequer George Osborne, where we discussed the Government's plans to deliver greater regulatory clarity for cryptoassets. About 5.6 million Brits currently invest in crypto, and making sure that we deliver a regulatory framework that works for them will be crucial to maximising the potential of this exciting new technology.
And we're in regular conversation with industry leaders to ensure that the UK remains a great place to start, grow, and invest for the world's most innovative firms. This work ensures that the UK continues to enjoy a head start in the rollout of new fintech, which makes dealing with financial services easier and cheaper for consumers. Whatever's happening in Parliament, the ongoing campaign to ensure that the UK retains this competitive advantage continues. I'm proud to belong to a Government which is so ready to embrace the future.Â