TheCityUK responds to the General Election result

Chris Cummings, Chief Executive, TheCityUK, said,

Business likes certainty and following a majority win for the Conservative Party, the City looks forward to working with a strong and stable Government. This is the moment to set out ambitious policies to support continued economic growth.

The top priority for the new Government is to back business and the City by putting the competitiveness of the UK at the heart of its work. Its focus should be on driving economic growth and spurring job creation - this can only be done by bolstering the UK’s competitiveness. That means tax rates that continue to improve and clearly signal that the UK is open for business, a de-regulatory agenda to spur growth and policies that support international trade and investment. The financial and related professional services industry should be at the heart of that agenda given its role as the UK’s leading tax paying sector, greatest export earner and the part of the UK economy that attracts more foreign direct investment than any other.

We are keen to work with the new Government to further strengthen our relationships with all significant markets, including the economic powerhouses of India and China, where continuity is so important, and deliver policies that will secure the City’s pre-eminence as a leading international financial centre in the years ahead.