Keeping our capital working for the UK

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Commenting on the Draft Financial Services Bill 2011

Commenting on the draft financial services bill 2011

Baroness Jo Valentine, Chief Executive of London First, which represents London’s leading private sector employers, said:

“Today’s draft finance bill shows a commitment to improving tax policy making and providing much needed certainty and transparency for business. But Government needs to reconsider personal tax rates. Whilst we may have globally competitive rates of corporate taxes the same is yet to be seen with personal taxes. For London and the UK to continue to attract the new business and talent needed to grow the economy our whole tax system needs to be competitive, and be perceived globally to be so.”

Ends

Notes to Editors

London First is a business membership organisation with a mission to make London the best city in the world in which to do business. London First undertakes this by mobilising the experience, expertise and enthusiasm of the private sector to develop practical solutions to the challenges facing London. London First also seeks to persuade central and London government to make the investments that London needs in its infrastructure.

London First delivers its activities with the support of the capital’s major businesses in key sectors such as finance, professional services, property, ICT, creative industries, hospitality and retail. Membership also includes further education colleges and all of London’s universities. London First members represent over a quarter of London’s GDP.

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