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Responding to the General Election result, City of London Corporation Policy Chairman Chris Hayward said:
“Financial and professional services is the engine room of the UK economy, supporting people at every stage of their life. The sector must be at the forefront of Labour’s plans to drive growth. Employing over 2.4 million people – two-thirds of whom are outside London – the industry now contributes over £110 billion in taxes annually – more than the Government’s annual education budget.
“The City Corporation works with any elected government, but we look forward to working with Sir Keir Starmer’s Government to deliver on Labour’s five missions. The City Corporation stands ready to support the Government in delivering on the important issues that matter: from boosting economic growth, creating more high-skilled jobs, and funding for public services, to tackling the climate crisis.
“Whether its raising investment levels, anchoring the UK as a leader in sustainable finance, or making the UK a digital-first economy, our Vision for Economic Growth suggests reforms that could unlock up to £225 billion of investment right across the UK.
“To realise Labour’s bold ambition to make Britain a clean energy superpower, private sector finance must play a central role. Working together, public and private partnerships must seize this historic opportunity to transition to net zero, creating new high-skilled jobs, cutting energy costs for families, and securing our nation’s green energy supply.
“Our work is diverse and wide ranging across Labour’s five missions, from raising investment levels to delivering high-quality services, boosting young people’s social mobility, and managing key assets for the good of the nation.
“Working together, the City Corporation and the Government can, and will, deliver high-skilled jobs, opportunities, and economic growth right across the country.”