The UK government is launching a “concierge” service designed to make the UK more appealing to overseas financial services investors.
The UK Treasury said its “one-stop shop” service will help global financial services firms pick locations, navigate regulation and “get to grips with Britain’s business environment”.
The service, which is free of charge, is a partnership between the Treasury, regulators and the City of London.
The move comes amid international investors bemoaning the absence of a dedicated UK resource, unlike in other countries, to help speed up investment in the UK.
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 outside London.
The “concierge” service will draw on the strengths of the UK’s financial services clusters, such as Leeds, Liverpool, Belfast and Bristol, to promote investment opportunities and help deliver the infrastructure, the government said.
Chris Hayward, policy chairman of the City of London Corporation, said: "This marks a defining moment in the United Kingdom’s approach to foreign direct investment. Co-located in Westminster and the City of London, this important step moves us from ambition to action in less than six months.
"The service embodies the strength of public–private partnership, harnessing industry, government, and regulatory expertise to create a streamlined and fully integrated offer. It will make the UK the most attractive destination in the world for financial services.
"For investors worldwide, this represents an unparalleled opportunity to engage with a world-class ecosystem built for growth, innovation, and long-term success."
IMAGE: PIXABAY
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