TheCityUK responds to the Budget

Chancellor Rishi Sunak has today delivered his 2021 Budget.

Miles Celic, Chief Executive Officer, TheCityUK, said,

The Chancellor’s Budget is rightly focused on supporting the economy through the pandemic and boosting long-term growth and productivity. The focus on innovation, investment and infrastructure across the whole of the UK reflects many of the priorities our industry has long called for.

“Our industry is already the biggest contributor to Britain’s public finances. However, the UK cannot forget it exists in a highly competitive global landscape. Changes to corporation tax need to be matched with a commitment to streamlining and simplifying the UK’s tax code, and we welcome the review of the bank surcharge which has long placed UK headquartered firms at a disadvantage to those in New York and in Asian centres. We look forward to seeing further detail on this proposal.

“Our industry will welcome the measures outlined today to put the UK at the forefront of the green finance revolution and to make sure we can find and train the highly skilled talent we need from within the UK and internationally. Our ecosystem will also welcome the commitment to act swiftly on the recommendations of the Hill and Kalifa reviews, which are needed to make the UK the best place in the world to start, grow and list the companies of the future.”