What about international competitiveness of UK banks?April 4, 2011
Commenting on the Treasury Select Committee’s banking report,
Baroness Jo Valentine, Chief Executive of London’s leading cross-sector business organisation, London First, said:
“London’s business community needs a banking sector that is able to deliver competitively priced, innovative and robust products to support operations, diversify risk and fund expansion. While the Select Committee understandably have focused on competition within UK retail banking, just as vital is the international competitiveness of the UK banking sector, upon which billions of pounds of investment and hundreds of thousands of jobs depend.”
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.