City of London Corporation response to UK Budget

Mark Boleat, Policy Chairman at the City of London Corporation, said:

On Brexit:

"The Chancellor's words from today's Budget about the UK being better off in a reformed EU are backed up by the City of London Corporation.

“Our view is that remaining as a member of the EU will benefit the financial and professional services firms based in the City, across the capital and up and down the country. The years of uncertainty that would follow if we were to leave would almost certainly impact on investment, business confidence and job creation."

On tax reforms:

"Tax reforms to attract multinational firms to the UK are a welcome measure.

“We need to make sure the UK remains a globally competitive place to start, run and grow a business. A further reduction to Corporation Tax by 2020 to 17 per cent sends a strong signal to the world that the UK is the number one destination for these world-leading firms."

On infrastructure:

"Announcements for transport infrastructure funding, in particular Crossrail 2 which is especially good news for the capital, are all welcome.

“I would also concur with the Chancellor that Lord Adonis and his National Infrastructure Commission have made a strong start with their recommendations and reports. They now need the continued backing of Government in getting these plans off the ground."