Vision for Economic Growth - a roadmap to prosperity

A long term plan for UK financial services

Nearly everyone in the UK interacts with financial and professional services (FPS) on a daily basis – from routine purchases using a debit or credit card, to milestone moments like taking out a mortgage or a business loan to drive expansion and create new jobs.

It is vital that we have an industry that supports consumers and businesses right across the country and through the stages in their lives. And that we build on our strengths as a global financial centre of excellence to prepare for new opportunities – including those in Artificial Intelligence (AI), and fast-growing global sectors like climate finance and the digital economy - so that as an industry we can continue to support UK and global prosperity. 

The City of London Corporation convened a steering board of leading figures from across UK FPS to set out a roadmap to strengthen UK-based FPS as a driver of jobs and prosperity, and to reinforce our international competitiveness.

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Vision for Economic Growth
a roadmap to prosperity

Vision for Economic Growth
a roadmap to prosperity

Vision for Economic Growth - a roadmap to prosperity
highlights five critical objectives designed to:

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Support the conditions for growth
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Raise investment levels
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Become a digital-first economy
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Anchor the UK as a leader in sustainable finance
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Pursue world-class promotion and interconnectivity
The financial and professional services sector is the engine of our economy, but it needs regular maintenance checks…. Given the right legislative and regulatory conditions, the financial and professional services sector can boost investment in our businesses and drive growth right across the country, financing our future.” Lord Mayor Nicholas Lyons
"In a time of mounting competition and economic headwinds, it’s time for a roadmap that future-proofs UK financial services and produces more investment, more jobs, new businesses and more funding for public services” Policy Chairman Chris Hayward, City of London Corporation

Industry engagement

Throughout the first half of 2023, over 300 organisations and individuals within firms, trade associations, regulators, policymakers and academia, joined discussion forums to feed in their views to this roadmap.

Vision for economic growth

Supporting the conditions for growth

Supporting the conditions for growth

Vision for economic growth

Raising investment levels

Raising investment levels

Vision for economic growth

Anchoring the UK as a leader in sustainable finance

Anchoring the UK as a leader in sustainable finance

Vision for economic growth

Becoming a digital-first economy

Becoming a digital-first economy

Vision for economic growth

Pursuing world-class promotion and interconnectivity

Pursuing world-class promotion and interconnectivity

Vision for Economic Growth - a roadmap to prosperity draws on recommendations from earlier reviews, as well as a wealth of evidence, insight and research. It has been supported by Allen & Overy and Oliver Wyman.

Vision for economic growth - a roadmap to prosperity is supported by Allen and Overy and Oliver Wyman

"The UK financial centre embodies so many of the qualities that make Britain great. It is a magnet for the best and the brightest talents in a wide variety of professions, from banking and insurance, to asset management and consulting, to the law and accounting."

Lisa Quest and John Romeo Oliver Wyman

"Strengthening the UK’s status as a world -leading international financial centre requires ongoing commitment, focused innovation and close cooperation between industry, policymakers and regulators. The rewards are substantial, with the industry enabled to play its full role in driving long-term economic growth right across the country and supporting customers in their everyday lives."

Miles Celic, Chief Executive Officer TheCityUK

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