Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Finance

Britain’s Sunak promises to sharpen City of London’s competitive edge

2021 06 30T230636Z 2 LYNXNPEH5T1H2 RTROPTP 4 BRITAIN FNANCE SUNAK - Global Banking | Finance

LONDON (Reuters) – Britain will unveil its blueprint on Thursday for building the world’s “most advanced” financial sector after Brexit largely severed the City of London financial district from the European Union, its biggest export customer.

Finance minister Rishi Sunak will set out his “ambitious vision” for Britain’s largest tax-raising industry in his first Mansion House speech, the finance ministry said ahead of Thursday’s event – traditionally an annual speech given by the finance minister in London’s “Square Mile” financial heartland.

A detailed plan for how the City’s competitive advantage will be sharpened for “decades to come” is also due to be published later on Thursday.

Sunak will announce new integrated sustainability disclosure requirements for companies to report on the impact they have on the environment, the ministry said, a step the EU has already taken.

To date, sustainability disclosures look at how climate change affects a company’s financial performance.

The financial sector was largely left out of Britain’s trade deal with the EU, cutting lucrative ties with investors on the continent, and the industry has called for a government strategy for the City.

Sunak has already begun work on changing rules to attract more investment funds, amending insurers’ capital rules, and is due to publish draft reforms to capital markets.

Listing rules will be eased to attract more technology company flotations, and a fast-track visa scheme is planned to help fintechs.

The government on Wednesday set out details for the sale of Britain’s debut sovereign green bond or gilt, and a “world-first” green savings bond.

(Reporting by Huw Jones; Editing by Mark Potter)

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post