City Corporation responds to result of Conservative Party leadership election

Responding to the result of the Conservative Party leadership race, Policy Chairman at the City of London Corporation, Chris Hayward, said:

“We congratulate Liz Truss on her victory in the Conservative Party leadership election. The City Corporation has enjoyed positive relations with her as Foreign Secretary and International Trade Secretary and we now look forward to working with her as Prime Minister. It is vital that we work together to address some of the major challenges the country is currently facing.

“This will involve seizing new opportunities such as the implementation of the Financial Services and Markets Bill and the secondary objective for the financial regulators to promote growth and international competitiveness. The first ‘State of the Sector’ report that we produced with HM Treasury earlier this year, highlighted areas where action needs to be taken to boost the UK’s competitiveness as a world leading financial centre. This includes agile and flexible regulation that works in the interest of British people and businesses by supporting innovation. Continuing strong global leadership on net zero is also a crucial part of maintaining the UK’s competitiveness.

“This will not only benefit the sector but the future prosperity of the UK economy as a whole and forms a vital component of the Government’s levelling up agenda. Levelling up must include all parts of the UK including London as the capital’s success benefits every corner of the UK. The sector drives growth, supports investment and accounts for more than 2.3 million jobs across the country – two thirds of which are outside of London.

“We also urge the new Prime Minister to push ahead with the Online Safety Bill. The Bill is needed to help tackle economic crime and protect people from becoming victims of online fraud. We must urgently ensure that social media and technology firms prevent their platforms from being used to commit fraud, and are pro-active in tackling it. Any further delay will only lead to more victims.”


Notes to editors

About the City of London Corporation

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


 About Chris Hayward

Throughout his career Chris Hayward has worked in the construction, aviation, infrastructure and global events management sectors.

He is currently a Director at leading communications agency JBP, a Consultant at professional services consulting firm WSP, and also of Keltbray Limited and Director of Hayward Properties Limited.

He is a former Deputy Leader of Hertfordshire and Dorset County Councils.

As Policy Chairman, he effectively operates as the political Leader of the City Corporation.