Following today’s Autumn Statement by the Chancellor, Miles Celic, Chief Executive Officer, TheCityUK, said:
“We welcome the clarity provided by the Chancellor in his Autumn Statement, particularly around reforms to Solvency II which will help to unlock investment from insurers for green energy and infrastructure projects across the UK.
“It is positive to hear the government shares our ambition to make the UK the most innovative and competitive international financial centre. Given the recent market turmoil, it is essential that the government balances prudent fiscal action with the need for the UK to remain internationally competitive and a place where investors, firms and talent want to locate and do business. It is vital that the government now remains focused on delivering much needed economic stability and does not lose sight of the need to bolster UK growth and international competitiveness.
“It was welcome to hear the government’s continued commitment to the net-zero transition – clear policy signals are critical for our industry to play its enabling role on this agenda.
“We look forward to working with government to embed these measures and reaffirm the UK’s reputation as a leading global financial centre.”