Mark Carney: Finance by all, for all

Remarks by Mr Mark Carney, Governor of the Bank of England, at the Women in Banking and Finance 22nd Annual Awards, London, 14 June 2019.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Central bank speech  | 
17 June 2019

It is an honour to join you today to celebrate this special occasion.

The Women In Banking and Finance (WIBF) network is a place to connect with colleagues, share knowledge and like today, celebrate success.

In that spirit we have already connected at the reception and will conclude by celebrating your success, so let me take up a bit of the middle to share some knowledge that the Bank has gained as it seeks to improve diversity and inclusion at the heart of finance.

Let me start by reflecting on the state of the UK financial services industry. Over two million people across the UK work in the sector. It makes up over 10% of the economy and runs a trade surplus of £72 billion, greater than all other exporting industries combined. Financial services contribute enough taxes to fund the NHS.

Most fundamentally, finance serves households and businesses at home and abroad. Last year, the UK financial system channelled £300 billion in finance to UK businesses and helped 700,000 households to purchase homes. Finance insures the contents of 20 million homes and provides pensions to 21 million people.