7 May 2010
The Lord Mayor of the City of London, Nick Anstee, comments on
the General Election result
"Following last night’s historic election, we need swift
decisive action by the political parties so that we can be certain
of who is governing the UK and who will be guiding our country
through these turbulent times.
"Working with the new government, whoever it is, we want to
create a secure and stable environment for both international and
domestic investors and ensure the City's sustains its international
competitiveness".
"We must remember that, even during the global recession, the UK
financial services industry continued to make a hugely valuable
contribution to our economy. In the 2009 fiscal year it generated
more than an eighth of our total tax revenues, equivalent to
approximately 75% of the education budget, and employed more than
one million people. This contribution is even more important to
retain, as it makes a substantial contribution to reducing the
deficit.
"We simply cannot afford to allow London's international
competitiveness and the UK's future prosperity to be threatened by
over hasty decisions , especially on regulatory change, which could
have significant adverse impacts. We need the new government to
take careful decisions on how to proceed and to aim for maximum
international consensus, having fully assessed the likely impacts
of any proposed changes ."
Ends
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