City Corporation: ‘Financial Services strategy critical to unlocking jobs and investment across the country’
The City of London Corporation’s recent groundbreaking report, Vision for Economic Growth – a roadmap to prosperity underscores the importance of establishing a long-term financial and professional services strategy for the UK.
Chris Hayward, Policy Chairman for the City of London Corporation, will champion the creation of a Financial Services Strategy and Council which would provide urgency, direction, and impact as the sector looks to drive economic growth. The council, made up of government and senior industry leaders, would be able to support a new UK-focused financial and professional services strategy that drives reforms in the sector and supports nationwide economic growth.
Joining the Policy Chairman in a separate discussion on how the United Kingdom plans to fund its transition to net-zero was Sarah Olney MP, the Liberal Democrat Treasury and Business, Energy, and Industrial Strategy spokesperson, and Dr. Aveek Bhattacharya, the interim Director of the Social Market Foundation.
Vision for Economic Growth is the result of months of collaboration with over 300 stakeholders across the financial and professional services industry, the roadmap would unlock £225 billion of investment and economic growth into the UK. The £225 billion is made up of £100 billion in insurance reforms, £75 billion in Mansion House pension reforms, and £50 billion in net zero investments.
Chris Hayward, Policy Chairman at the City Corporation, said:
“The UK needs strong economic growth. A growing economy means more investment, more jobs, and more funding for public services.
“We extend our hand to all political parties, imploring them to rally behind our 'Vision for Economic Growth. The roadmap sets out how policymakers and the private sector can work together to create the right conditions for growth and unlock jobs and investment across the UK.
“With the right conditions in place, this vision has the potential to unlock a staggering £225 billion of private capital and investment by 2030.”
Notes to editors
The Vision for Economic Growth: A Roadmap to Prosperity report can be here: Vision For Economic Growth.
The City of London Corporation is the governing body of the Square Mile dedicated to a vibrant and thriving City, supporting a diverse and sustainable London within a globally-successful UK. www.cityoflondon.gov.uk