The Chancellor has launched a new one-stop support service to make the UK more attractive to global investors and create jobs and opportunities for working people across the UK.
- One-stop shop to cut red tape and remove barriers for global firms investing in UK financial services
- Partnership between Treasury, regulators and City of London to deliver growth for working people
- Targets high-value job creation in every region - from Leeds to Liverpool, Belfast to Bristol
The new 'concierge' service will help global financial services firms pick locations, navigate regulation and get to grips with the Britain's business environment - removing barriers to investment in the UK.
The Chancellor Rachel Reeves announced the fully operational Office for Investment: Financial Services during the IMF's Annual Meetings in Washington DC.
The free service, delivered by the Office for Investment, is a partnership between HM Treasury, financial regulators and the City of London Corporation and delivers on commitments made in Reeves' Mansion House speech to reduce regulatory uncertainty and make Britain the best place in the world to invest and do business.
Chancellor Rachel Reeves said:
We said we would make it easier to create jobs and grow a business in our country and we're delivering.
This service will drive investment across our United Kingdom, making sure that the world's most innovative businesses can access the talent found in every corner of our country and that working people feel better off.
Financial services employ 1.2 million people across the UK, with more than half of those jobs located outside London. The Chancellor's Leeds Reforms outlined her vision to strengthen Britain's position as a global financial hub, and overseas investment - particularly from the US - helps deliver on the government's plan for national renewal.
The Office for Investment: Financial Services will draw on the strengths of our financial services clusters - from Leeds to Liverpool and Belfast to Bristol - to actively promote actively promote investment opportunities and help deliver the infrastructure that matters to working people across all of the UK's nations and regions.
These deeper financial services links between the UK-US come after an historic State Visit, which renewed the special relationship between the two countries for a new era.
A record £150 billion of inward investment from US companies was secured, creating more than 7,600 high-quality jobs across the UK in places like Glasgow, Warrington and the Midlands. The first ever UK-US tech agreement was also signed, focused on developing technologies which will drive growth like AI, quantum and nuclear.
