The Lord Bishop of St Albans asked a question about the stock market in Paris overtaking the London stock market on 17th November 2022:
The Lord Bishop of St Albans: To ask His Majesty’s Government what assessment they have made of the impact of Paris overtaking London as Europe’s most valuable stock market.
Baroness Penn (Con): My Lords, according to the Global Financial Centres Index, London is the second highest-ranked financial centre in the world after New York, while Paris is 10th. The UK continues to be the pre-eminent financial centre for derivatives and foreign exchange trading. In all equities instruments, the UK almost doubles France’s total market capitalisation at $6.2 trillion. To support the UK’s competitiveness, the Government are undertaking ambitious reforms to keep pace with innovation.
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