The Bank of England is planning to involve itself more closely in the “future of finance”, potentially granting more firms access to its balance sheet, becoming more active in encouraging credit flows to small firms, and implementing climate stress tests.

Governor Mark Carney said today (June 20) that the “new economy” demanded a “new bank”.

A core plank of the strategy is promoting payments, including by launching a debate on whether more firms should be able to tap into the BoE’s balance