TheCityUK responds to productivity focused Autumn Statement

Following the Autumn Statement, TheCityUK supports measures taken by Chancellor Philip Hammond to boost productivity and deliver economic stability.

Miles Celic, Chief Executive, TheCityUK, said:

Today’s announcements should help to bring greater market stability, while emphasising the fact that Britain remains open for business. The long-term impact of Brexit will depend on the nature of the final deal, but uncertainty and volatility present real challenge and the Chancellor is right to focus on stability and productivity.

We applaud the announcement of the £23bn productivity investment fund, particularly the focus on enhancing physical and digital connectivity. As part of this, the committed investment to UK FinTech and the deployment of regional FinTech envoys will be an important boost to this burgeoning sector. Taken together, these measures should act to stimulate sustainable economic growth and will play an important part in addressing the long-term slowdown in UK productivity gains.