Responding to the Budget, Catherine McGuinness, Policy Chair at the City of London Corporation, said:

FINTECH

“The strategic review of the UK fintech sector is a very positive step, and as secretariat we look forward to working with Ron Kalifa to ensure the sector continues to drive forward innovation in financial services and enhance its role as a key growth engine for the UK economy.”

COVID-19

“We welcome the Chancellor’s efforts to support households and businesses, particularly SMEs, through the current COVID-19 outbreak. After strong early measures from the Bank of England today and the wider-banking industry, it is a clear, coordinated response that will reinforce the economy at this difficult time.”

INFRASTRUCTURE

“We have long said that improved connectivity will not only strengthen the UK’s position as a world-leading business hub, but also help create greater shared prosperity nationwide. The commitment to ramp up infrastructure spending, particularly on green transport and gigabit broadband, is a positive first step.

“But this is not a zero sum game. ‘Levelling up’ should not mean leaving out London – the capital is the beating heart of the UK economy and it is important investment is made right across the country, including London. ”

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