UK Work Programme

TheCityUK provides a strong and clear voice to promote financial and related professional services in the UK creating evidence of the industry’s value, ensuring its benefits and economic contribution are understood, while driving the jobs and growth agenda.

Over 12% of the UK’s GDP comes from financial and related professional services, more than any other industry. The sector employs 2.2 million people, 7% of the working population, of which two-thirds are outside London, including over 200,000 in the North West and South-East; around 150,000 in the East of England, Scotland and the South West; and around 130,000 in both the West Midlands and Yorkshire and the Humber.

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Our industry is key to everyday life in the UK. It provides capital, manages risk and facilitates trade and commerce. 90% of households purchase at least one insurance product and mortgages help home ownership for 67% of the population. The industry made £454bn of loans in the last year, over £165bn of which was to SMEs. Jobs in our sector are the most productive jobs in the economy – 80% above the UK average, according to Gross Value Added (GVA) figures. Since the start of 2007, foreign companies invested around £100bn into UK financial companies, more than in any other sector.

The UK is Europe’s financial centre and leads the way in international banking, fund management, international insurance, private equity and derivatives trading. UK fund managers protect and grow £4tn in financial assets. The UK is also a global leader in accountancy, legal services and management consulting.

Our UK focus

TheCityUK is active across the UK, where we focus on the core elements of competitiveness for our industry; tax and taxation; regulation and supervision; skills and immigration, physical and digital infrastructure and soft competencies.

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The strategic objectives for our UK engagement are as follows:

  • Using evidence-based research to demonstrate the value that financial and related professional services generate nationally and ensure that policy supports the jobs and growth agenda.
  • Ensuring that the UK is globally competitive and that policy enables the industry to remain dynamic, outward looking and able to address the needs of customers and clients.
  • Highlighting the UK’s position in Europe by influencing policymakers and the reform agenda, developing bilateral country level partnerships and providing authoritative research to help shape the debate.

For more information about the impact that financial and related professional services have on the UK economy please see our UK Interactive Map or contact us.