Commenting on today’s budget, Miles Celic OBE, Chief Executive Officer, TheCityUK said,
“This is a Budget of two halves for financial and related professional services. The Chancellor’s focus on driving investment across the UK is absolutely right. It’s central to the delivery of growth and productivity. The implementation of a three-year holiday for stamp duty for new listings is something we have long called for and should help to boost investment in the UK.
"However, increasing taxes on savings income and dividends, and the reduction in salary sacrifice limits risks disincentivising saving and investment at a time when people should be encouraged to save and invest more. We will also continue to call for action to simplify and streamline the UK’s overly complex tax regime.
“Given our industry’s role as an enabler across the economy, we look forward to continuing to work with government to unlock faster growth, to deliver jobs and prosperity across the whole country, and to keep the UK as the most attractive place for foreign business and talented individuals to come and base themselves. These are critical foundations to ensure our country’s competitiveness and its continued success as an international financial centre.”
