In his first budget since taking over as chancellor of the exchequer in February, Rishi Sunak has unveiled “a major review” of the UK’s much-vaunted fintech sector.

It will be led by Ron Kalifa, vice-chair of the payments business Worldpay, which was acquired by software provider FIS in July 2019. His task will be to determine how the government can better support growth and competitiveness among financial start-ups.