World-class financial centre

The UK is recognised internationally for its world-leading financial services industry. The Government wants the UK to be one of the most competitive global centres for financial services, while also ensuring that the banking sector makes a full and fair contribution to the wider economy.

The Government believes balanced and sustainable economic growth must be led by the private sector. Businesses, including financial services, need an environment to help them compete. Yet competitiveness is not determined solely by policy or tax. The UK enjoys a ‘clustering effect’, housing many interrelated businesses spanning from traditional banking, insurance and asset management, to private equity and alternative investments, and to the professional services industry that supports them. Taken together, the dynamism of the UK’s economic structure helps foster a vibrant, attractive and competitive economy.

The UK has been at the forefront of challenging and informing the financial services agenda internationally, while recognising that global reform must be consistent and fair. Effective reform that reinforces financial stability will promote the long-term strength and credibility of the UK as a world-leading financial centre.

Useful external research reports are available as follows:

World-class financial centre

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Key financial sectors

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World-class financial centre index

Financial services sectors