In 2019, London’s financial sector contributed £63.4 billion to the UK economy – 14 per cent of London’s total output [1].
In the same year, there were 402,108 jobs in this area, accounting for around 7 per cent of all jobs in the capital and 35 per cent of the sector’s jobs in the UK as a whole [2].
Professional and business services contributed £225 billion to the UK economy in 2019 and employed 13 per cent of the UK workforce [3], with around a third of these jobs based in London [4].
London’s financial and professional services sectors are key drivers of economic output and employment. So how have these sectors responded to the impact of leaving the EU and the pandemic?
The London Assembly Economy Committee will meet tomorrow to discuss the future opportunities and challenges for London’s financial and professional services and how the Mayor can support these vital sectors.
The guests are:
- Allen Simpson, Interim Chief Executive, London & Partners
- Rajesh Agrawal, Deputy Mayor for Business
- Miles Celic, Chief Executive Officer, TheCityUK
- Professor Sarah Hall, Senior Fellow, The UK in a Changing Europe
- Anna Purchas, London Office Senior Partner, KPMG
The meeting will take place on Friday, 10 December from 10am, in Rooms G02 – G03 – G04, LFB Headquarters, 169 Union Street, London, SE1 0LL.
Media and members of the public are invited to attend.
The meeting can also be viewed LIVE or later via webcast or YouTube.
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Notes to editors
- ONS Dataset Regional gross value added (balanced) by industry: all ITL regions May 2021
- House of Commons Library Financial services: contribution to the UK economy February 2021
- House of Lords European Union Committee The future UKEU relationship on professional and business services October 2020
- Department for Business, Energy and Industrial Strategy Professional & Business Services sector February 2020
- Full agenda papers.
- Shaun Bailey AM, Chairman of the Economy Committee, is available for interview.
- Find out more about the work of the Economy Committee.
As well as investigating issues that matter to Londoners, the London Assembly acts as a check and a balance on the Mayor.