UK competitiveness and London as a leading financial centre |
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There was almost total unanimity that the London’s reputation as a financial centre had not been damaged by the crisis, and that the UK retained its competitive advantages in financial services. However, those in the industry expressed fears on two issues:
The international mobility of financial services and those working in the industry were mentioned by many. And most agreed that London – like other established financial centres – would be challenged by rising new centres in Asia as the global economy’s centre of gravity shifted to the east. The UK had all the advantages needed to retain its global pre-eminence in financial services, but short-term policy changes were leading many in the industry to reassess their commitment to the UK.
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vision: The future of financial services
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