Key facts about UK-based financial and related professional services 2022
The UK-based financial and related professional services industry continues to support individuals and businesses in their dayto- day activities through familiar services like saving, mortgage provision, and business lending.
Broadly speaking, the industry has exhibited relative stability throughout the pandemic period, registering a smaller-than-average contribution to the overall economic contraction in 2020 and also a smaller-than-average contribution to growth in 2021. This relative stability likely reflects in part the essential nature of much of the industry’s output and continued (indeed, in some cases increased) demand for its products and services. Financial and related professional services contributed £261bn to UK gross value added (GVA) in 2021, representing around £12 of every £100 of economic output. This characteristic means that it is wellplaced to weather the myriad economic and geopolitical challenges the coming year is set to deliver, and to continue to support UK consumers and businesses in ways that can help them maximise their own output and productivity.
