UK financial services articles
FTT will increase costs and restrict growth
Commenting on a Financial Transaction Tax (FTT), Chris Cummings, CEO of TheCityUK, said:
“A FTT will hinder UK and European competiveness at a time when we need to do all we can to stimulate economic growth. The lion’s share of independent analysis shows that a FTT would increase costs for both industry and consumers, without adding to the tax take.
Financial Transaction Tax is unworkable
TheCityUK, the British Bankers’ Association, the International Swaps and Derivatives Association, the Investment Management Association and the Association of British Insurers have today written to the Daily Telegraph in response to the European Commission analysis of the merits of a financial transaction tax. Here is the letter in full.
Private Finance Initiative (PFI) Review: response to HM Treasury’s Call for Evidence
Our response to the Call for Evidence on PFI reform, prepared in consultation with our members, has been submitted to HM Treasury.
UK financial services attracts significant overseas investment
New research released today illustrates for the first time the true composition of ownership of the UK’s financial services sector and shows the UK is a popular destination for investment from overseas. According to the report from TheCityUK, UK Trade & Investment and IMAS Corporate Finance, foreign owned firms make up nearly half of the financial services groups worth over £100m in the UK.
Financial and professional services sector provides a fifth of economic output in Glasgow
This evening we are hosting a seminar in Glasgow with Fergus Ewing MSP, Minister for Energy, Enterprise and Tourism. The event will consider the important contribution that the financial and professional services sector plays in Scotland’s economy, employing over 150,000 people and contributing 12% of Scotland’s GVA.
