TheCityUK's new strategy aims to help the UK to catch US and Asia
In Brief:
Industry group, TheCityUK, unveils plan return the UK to being the world’s leading international financial centre within five years.
It advocates boosting market share in areas in which the UK has an advantage, such as FinTech and ESG.
It also calls for lower tax burden for banks in order to compete internationally
What does this mean?
TheCityUK CEO, Miles Celic, argues the UK’s financial services industry is a “strategic national asset” yet all successful financial centres should caution against complacency. Coming out of the Covid pandemic a fresh focus is needed to make the UK the leading global financial centre.
