08
July
2022
|
17:11
Europe/Amsterdam

City Corporation reacts to new Government appointments

Following the appointment of new Government ministers, City of London Corporation Policy Chairman Chris Hayward said:

“The UK financial and professional services sector needs a stable Government to stay competitive on the global stage.

“Our City businesses contribute over £75bn in tax annually, or 11% of all UK tax, and support the UK economy by creating jobs, encouraging investment, and facilitating trade.

“And they support the government’s levelling up agenda by employing 2.3 million people across the country - two thirds of which are outside of London.  We therefore welcome the Government’s intention to include competitiveness in the Financial Services and Markets Bill.

“The competitiveness of the industry is a critical national interest.

“We stand ready to work with the Government to support a vibrant and thriving City, a diverse and sustainable London, and a globally-successful UK.  We look forward to working with the new team.”

ENDS

Notes to editors

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