Chris Hayward, Policy Chairman at Corporation said:
“This strategy marks a turning point for the UK’s financial and professional services sector. These reforms are not about City boardrooms, they’re about jobs, investment, and better retirement outcomes across the UK.
“We are proud to see our proposal for a Financial Services Investment Hub taken forward, which could generate inward investment of up to £10 billion over the next five years.
“The has long called for a joined-up approach to boost the City and the wider UK economy, and I am pleased to see action on priorities we’ve championed.
“Building confidence and stability through reform of the Financial Ombudsman Service is long overdue. Firms need confidence to invest and offer new services. Rebuilding a culture of investment is essential for our economy.
“We also welcome support to help FinTechs grow and scale. We’ll be leading work with the British Business Bank and Innovate Finance to unlock scale-up capital and attract long-term investment into UK innovation.
“From fintech to green finance, skills to competitiveness, we look forward to working closely with the Government and industry to transform ambition into action.”
ENDS
Notes to editors
The 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. .
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