City of London Says UK Needs Better Financial Services Strategy

The City of London thinks the UK could attract as much as £7.7 billion ($10.2 billion) more investment by 2030 if it did a better job of attracting foreign sovereign wealth.

The government should establish a long-term financial and professional services strategy and create a dedicated agency to implement it, the financial district’s governing body said in a statement. A key aim should be to encourage investors like sovereign wealth funds and public pension funds to open a UK office, which prompts higher levels of investment.