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<p>The UK is home to the world’s preeminent financial centre and the government is
committed to maintaining and enhancing this position post-Brexit. In addition to our
natural advantages, such as a central time zone and the English language, we have
strengths across all the major sectors – banking, asset management, and insurance
– alongside a globally respected regulatory system, and world-class legal and professional
services.</p><p>Alongside these strengths, we also already have a competitive tax
offer. The UK corporation tax rate is the lowest in the G20 at just 19 per cent, and
is legislated to fall to 17 per cent in 2020. All together, these factors have made
the City of London the world’s leading financial centre and will continue to do so.</p><p>As
the Chancellor of the Exchequer set out in his Mansion House speech in June, the government
has a long-term vision for the future of UK financial services, based on ensuring
the continued innovation, resilience, and openness of the sector. This includes strengthening
the UK’s already world-leading positions in the markets of the future, whether in
Fintech, green and sustainable finance, or rupee and renminbi products.</p><p> </p>
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