The UK Treasury today set out its policy objectives aimed at ensuring the world's financial system cuts costs for investors and consumers by functioning efficiently, promotes financial and economic stability and supports economic growth for all countries.

In a 65-page report entitled Embracing Financial Globalisation, the Treasury noted in the light of the current market crisis "the challenges financial globalisation presents, particularly to financial stability". However, it argued that globalisation can help fuel economic growth and stability as long as appropriate regulatory and supervisory frameworks are in place.