The new Prime Minister must address UK’s competitive drift

Press release
05 September 2022

Following the announcement of Liz Truss as the winner of the Conservative Party leadership election, Miles Celic, Chief Executive Officer, TheCityUK, said:

“On behalf of the financial and related professional services industry, I offer our warmest congratulations to Liz Truss on her victory in the Conservative Party leadership election and becoming our country’s new Prime Minister.

“The challenges facing the UK economy are profound and need immediate attention. Alongside addressing the urgent issues of rising inflation, surging cost of living and energy prices, we urge the Prime Minister and her government to move swiftly to deliver the reforms set out in the Financial Services and Markets Bill, while also seeking to address wider UK competitive drift in areas like access to talent, skills, tax and infrastructure delivery.

“Forging a strong forward-looking and ambitious partnership between government, the regulators and industry will be key to unlocking the necessary investment and action. We look forward to working with the Prime Minister and her team to deliver on this vital agenda.”