The financial services sector is a major driver of the UK’s economy. Securing its competitiveness is critical for future prosperity across the economy. The State of the Sector report is a world first. It has been developed, in partnership, by the City of London Corporation and HM Treasury, to provide a robust evidence-based assessment of the competitiveness of UK financial services. Repeated annually, it will be a mechanism that drives competitiveness year on year.
The report shows where the UK is world leading, what steps have been taken to improve the overall environment for finance so far, and considers areas for further reform. Drawing on both independent metrics, and wide consultation with the industry, it delivers on a key recommendation of Lord Hill’s UK Listing Review: to publish an annual review on the international attractiveness of the sector.