Following today’s announcement by the Chancellor of a set of reforms to drive growth and competitiveness in the financial services sector, Miles Celic, Chief Executive Officer, TheCityUK, said:
“Boosting the industry's competitiveness and securing the UK's position as a world-leading international financial centre is an investment in the nation’s success and in communities across the country.
“This is a comprehensive package of reforms which, if implemented effectively and alongside the Financial Services & Markets Bill, should help boost the UK's attractiveness as a place for businesses to list, invest, grow and do business.
"It's also positive to see further detail on how the regulators will be expected to help boost growth and promote the international competitiveness of the UK.
"We look forward to working closely with government and regulators to ensure that the wider landscape of financial services regulation is coherent, stable and tailored to Britain’s needs. Ensuring the regulators deliver on their commitment to enhancing operational efficiency will also be crucial.”