City Corporation responds to Spending Review

Responding to the Chancellor’s Spending Review, City of London Corporation Policy Chair Catherine McGuinness said:


“We welcome the extraordinary support being provided to help the economy through this pandemic. The Chancellor’s focus on protecting jobs and supporting businesses at this time by providing a safety net is absolutely right.

“We hope the Government will also urgently set out a clear plan to allow office workers to return to COVID-secure workplaces in order to get as much of the economy operating as possible. This is vital to protect livelihoods. We also need a thriving economy to help pay for the vast amount of support being provided at this time.”


“The national living wage increase announced by the Chancellor today is welcome. It provides much needed reassurance and certainty for millions of people currently struggling during unprecedented times. These include many key workers who have been on the COVID-19 frontline.”


“The new National Infrastructure Bank will help to provide the finance needed to deliver major projects alongside the private sector. Investment should be made right across the country, including London. The capital has – like other parts of the country – suffered greatly in the pandemic so it should not be overlooked when it comes to funding.

“The financial and professional sectors have an important role to play to level up economic opportunity across all nations and regions of the country and we support the Government's work to do this. That is why the City of London has this week launched a new taskforce to boost socio-economic diversity at senior levels in financial and professional services.”


“Today the Chancellor helped to prepare the nation's workforce for the jobs of tomorrow with significant additional funding for skills training – including the new Lifetime Skills Guarantee. We are committed to supporting the competitiveness of financial and professional services across the country through developing a skilled and talented workforce from all backgrounds.”


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