Vision for Economic Growth: two years on

The UK needs fresh, ambitious measures to lift its long-term growth rate. Our world-leading financial and professional services sector stands ready to do more, channelling investment into high-growth companies, vital infrastructure, and the innovations that will power our economy. That is why, two years ago, we launched Vision for Economic Growth: a roadmap for prosperity. It set out nine big moves for Government and industry to deliver in partnership. These could unlock £225bn of investment by 2030. Since then, we have been working with partners across Government and industry to turn that ambition into delivery. 

This scorecard updates progress against those ambitions.

From the start, we made clear that Vision for Economic Growth would not sit on a shelf. It is a practical blueprint to strengthen financial and professional services competitiveness.

The first year delivered welcome strategic progress - including the Government’s Financial Services Growth and Competitiveness Strategy, and other sector strategies.

This year has been a year of action: building the foundations for further growth. Working with Government and industry, we have delivered major structural initiatives to drive investment.

These include:

• The new Office for Investment: Financial Services (OFI:FS), designed to attract £10 billion of global capital by 2030.
• The Mansion House Accord, which will unlock £25 billion of domestic pension investment for infrastructure and high-growth sectors by 2030.
• The Transition Finance Council, which will reinforce the UK as the global hub for transition finance.

Next steps are critical to unlock further UK growth. We must raise overall investment levels. The OFI:FS will support this and is already engaging with firms. We must also build a clear pipeline of investible and co-investment projects in key sectors. And we must further mobilise domestic capital to support essential infrastructure.

We look forward to continuing our work with partners in Government and across the industry to continue to deliver against this roadmap.