PANews reported on July 9 that according to Bloomberg, British Prime Minister Keir Starmer will appoint Tulip Siddiq as the Minister of the City of London, a position that belongs to the Treasury, making her a key figure in regulating and advocating for key financial services industries. People familiar with the matter revealed that Siddiq, who has been a member of parliament since 2015, is expected to be appointed as the Economic Secretary of the Treasury. This is the equivalent position she held in Starmer's shadow cabinet. The position is called the Minister of the City of London, referring to the City of London and the broader financial services industry in the UK. Its responsibilities also include regulating fintech, crypto assets and debt management policies.
Earlier news, Tulip Siddiq said that if the Labour Party wins the election, it will be committed to transforming the UK into a global tokenized asset center.