Gordon Brown, UK chancellor of the exchequer, will tomorrow unveil a new drive to expand London‘s position as one of the world’s leading financial centres, conceding that the government must do much more to preserve one of the main pillars of the British economy.
Announcing a budget that will have the promotion of the UK‘s high value added industries as its central theme, the British finance minister looks set to launch his most concerted campaign to woo the City since the left-of-centre Labour party came to power in 1997.
In nearly a decade as chancellor, Mr Brown has sought to protect the City‘s status as one of the world’s top financial centres, most notably facing down plans for a European Union withholding tax on bonds.
But Mr Brown has told leading City figures that the government must work far more closely with London‘s leading institutions to preserve the capital’s status. He has therefore pledged to listen hard to concerns that London has the right tax and regulatory structures in order to attract business from the growing Chinese and Indian economies.
Mr Brown will announce that he is bringing together a number of leading City institutions – such as the London Stock Exchange, Euronext-Liffe and the London Investment Banking Association –to “develop and support a co-ordinated strategy” for the City.
布朗将就伦敦面临的挑战,发表一份由英国财政部官员编写的详尽分析报告,指出金融城不能满足于现状。
The chancellor will publish a detailed analysis by Treasury officials of the challenges facing London, arguing that the City cannot be complacent.
At the heart of this drive will be an overhaul of UK Trade and Investment, the government‘s export promotion body, so that it focuses more heavily on trade links with India and China.
Leading City figures have been concerned by a range of issues, including the Treasury‘s 0.5 per cent stamp duty on all share transactions, yielding the government £2bn ($3.5bn, ?2.9bn) a year.