London takes aim at New York with five-year financial plan

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A woman exercises with a dog near the City of London financial district, in London, Britain, April 30, 2021. REUTERS/John Sibley

  • Ambitious plan depends on tax cuts, open door hiring
  • TheCityUK says New York took top spot in 2018
  • Brexit, rise of Asian financial centres add pressure

LONDON, Sept 7 (Reuters) – Britain needs to ease taxes on banks and make it easier to hire staff from abroad, its financial and professional services lobby said in a blueprint to help London unseat New York as the world’s top international financial centre within five years.

The strategy paper on Tuesday from TheCityUK reiterated some ideas already aired in government-backed reports and elsewhere in recent months as the City of London looks to recoup ground lost following Britain’s departure from the EU. read more

“By some metrics, the UK is losing ground: London is currently slipping further behind New York each year while other centres are strengthening,” the paper said.

The U.S….

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