Scotland and City of London to collaborate and seize
opportunities for business and investment.
First Minister will travel to London this
week (Monday, 29 January) to take part in a number of events in
partnership with the City of London Corporation, including
agreeing an enhanced framework to promote Scotland and London as
centres of excellence for financial services.
The latest evolution of the partnership will ensure the benefits
of a thriving financial services industry are shared across the
UK. It is rooted in the ethos that financial sectors in Scotland
and London have much to gain from cooperating and coordinating.
The framework complements ongoing activity to double assets under
management in Scotland’s financial services sector to £1 trillion
by 2030, thus supporting more jobs, as outlined in Scottish
Financial Enterprise’s Growth Strategy.
It will ensure benefits are maximised for Scotland as the
Corporation pushes for the UK to be a global centre for nature
finance, and targets other shared priority areas including green
and sustainable finance, financial inclusion and social mobility.
Long-standing annual engagements will continue – including the
annual Burns Supper, hosted on rotation between Scotland and the
City of London Corporation since 2020 – ensuring regular
promotion of Scotland’s financial sector to UK-wide and
international investors in London.
It is part of broader work between the Scottish Government,
Scottish Development International, global investors and
partnerships – including that with the City of London
Corporation. It allows the Scottish Government and City of London
Corporation to work together to support the aims of businesses in
their respective financial sectors.
First Minister said:
“Scotland has much to gain from strengthening our relationship
with the City of London – by providing access to global investors
and collaborating on shared initiatives, we can reap the benefits
of a thriving financial services industry for our centres of
excellence.
“Outside of London, Scotland both has the UK’s largest financial
services centre and is the most attractive location in the UK for
foreign direct investment. By working with the City of London
Corporation towards shared goals, we can continue to drive that
investment, and grow our economy.
“This latest partnership agreement is enhanced in terms of the
scope and focus of our ambition, and will ensure our priorities
continue to align with those of businesses in the financial
sector.”
City of London Corporation Policy Chairman Chris Hayward
said:
“The twin financial and professional services sectors of London
and Scotland represent a critical part of the UK economy. We’ve
been delighted to partner with the Scottish Government on a range
of issues where we have alignment and shared challenges: in
sustainable finance, technology, talent and growth.
“Today’s meetings and Burns Supper represent an opportunity to
really explore these areas; to identify areas of complementarity;
and determine how we can work together for the benefit of our
shared sectors, economies and people.”
Notes to editors
*For operational guidance only – not for
publication*
Engagements and communications opportunities around the First
Minister’s programme in London on Monday 29 and Tuesday 30
January 2023. Any further engagements will be confirmed during
the visit and photographs will be issued on Scottish Government
social media channels.
For security reasons, the First Minister’s full travel
arrangements are not made public in advance. Costs, travel
arrangements and a full list of engagements will be published
proactively in line with normal practice.
Any media requests for City of London should be directed to
Annabel Singh Annabel.Singh@cityoflondon.gov.uk
Monday 29 January
First Minister will participate in a series
of roundtables focused on driving economic growth and encouraging
investment in Scotland.
The First Minister will join Lord Mayor of London Michael
Mainelli and City of London Policy Chair Chris Hayward for a
trilateral signing of the updated partnership agreement, before
attending a Burns Supper to toast the partnership between
Scotland and the City of London.
Tuesday 30 January
First Minister will attend a roundtable with
EU27 ambassadors at Europe House.
