Ahead of the mayoral elections in the Liverpool City Region on 2 May, TheCityUK is calling on all candidates to commit to practical and effective measures that will drive growth across the region and unleash the full potential of financial and related professional services to support that agenda.
In its manifesto for the Liverpool City Region, TheCityUK sets out three key areas where the metro mayor can make meaningful changes, enabling the industry to drive even greater growth across the local economy:
- Engaging the industry – working closely with the financial and related professional services industry to develop a comprehensive and measurable economic growth strategy for the region.
- Focusing on people and skills – using their convening power to ensure that Local Skills Improvement Plans reflect the regional economy’s needs and supports the broader growth strategy.
- Driving prosperity – the elected metro mayor should work closely with central government to boost investment in improved transport infrastructure and strategy for smoother movement of people and goods and attracting more investment to the Liverpool City Region. The strategy should also include providing clear guidance for engagement between government and industry.
Lyndsey Fallon, TheCityUK Chair in the North West, said: "The financial and related professional services industry in the Liverpool City Region is a major employer and driver of growth. It also helps people in their everyday lives to save for the future, buy a home and manage risk. Liverpool City Region is renowned for its vibrant business and professional services community. To maximise the region’s potential, it’s crucial that the elected mayor is committed to working closely with the business community to advance this important growth agenda.”
According to the TheCityUK’s ‘Enabling growth across the UK 2023’ report, the Liverpool City Region is a vital hub for financial and related professional services:
- The financial and related professional services industry employs 46,000 people in the wider Liverpool City Region.
- Almost 24,000 people are employed in financial and related professional services in the city of Liverpool; many of these people work in Liverpool Riverside, which is home to a thriving business and professional services community with a specialism in maritime insurance, banking and wealth management.
- The North West as a region is the UK’s second largest in terms of employment, and the largest economy outside London and the South East.
- ENDS -