Chris Hayward, Policy Chairman at the Corporation said:
“We welcome the government’s Industrial Strategy and the Professional and Business Services Strategy. We believe the UK’s financial and professional services sector has a vital role to play in delivering its ambitions. Boosting financial and professional services is one of the fastest ways to unlock investment, create jobs, and power up the UK economy. These sectors are not only major employers across the country but also provide the capital and expertise that other industries need to grow.
“To unlock their full potential, the City Corporation is calling for targeted reforms to boost investment in high-growth companies and infrastructure. Building on initiatives like the Mansion House Accord and FCA listing reforms, there is a clear opportunity to do more to help innovative firms scale and stay in the UK, and to ensure infrastructure plans translate into investable projects. The Corporation welcomes the passage of the Data (Use and Access) Act that will unlock transformative opportunities across smart data, digital verification, and trust services. The sector’s early adoption of technologies like AI is already driving productivity and has the potential to transform the wider economy.
“We also support stronger regional partnerships and welcome the creation of a statutory Industrial Strategy Council to ensure long-term coordination between public and private sectors.”
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