The UK is home to the world\u2019s 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 \u2013 banking, asset management, and insurance \u2013 alongside a globally respected regulatory system, and world-class legal and professional services.<\/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\u2019s leading financial centre and will continue to do so.<\/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\u2019s already world-leading positions in the markets of the future, whether in Fintech, green and sustainable finance, or rupee and renminbi products.<\/p>
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