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Press Release

TheCityUK's response to the Autumn Statement

29 November 2011

Chris Cummings, CEO, TheCityUK, responds to the Autumn Statement.

“We are pleased that the Chancellor highlighted that financial services will always be important to the UK and we support initiatives that strengthen and broaden the sources of finance available to business. We therefore welcome the Government's extension to the Enterprise Finance Guarantee and this directly reflects our member's views which we expressed to the Treasury”.

“We are pleased to hear the Chancellor's unambiguous statement on any Financial Transaction Tax that would weaken the UK as a centre for Financial Services”.

"We welcome the government's commitment to invest in infrastructure, using private sector know-how and funds to provide public services. The review of the Public Finance Initiative is crucial and the outcome must be one that enables the private sector to work with the government, deliver value for money to the taxpayer and services to the public and have a pipeline of properly prepared projects to ensure competition. Given the UK's financial services sector is the world leader in this area, and our practitioners are global experts, we have most to offer".

“The way this country will get out of the current economic difficulties is by exporting its way out of them. The UK's financial services sector is committed to helping the Government achieve its aim. Last year the sector contributed a £40bn trade surplus to the Government's coffers”.



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