{"id":273076,"date":"2025-11-20T07:02:11","date_gmt":"2025-11-20T07:02:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/273076\/"},"modified":"2025-11-20T07:02:11","modified_gmt":"2025-11-20T07:02:11","slug":"what-does-the-city-of-london-need-from-the-budget","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/273076\/","title":{"rendered":"What does the City of London need from the Budget?"},"content":{"rendered":"<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Chris Hayward, leader of the City of London Corporation, is keen for the Budget to help boost London&#8217;s financial district.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">The Square Mile employs about 676,000 workers &#8211; <a href=\"https:\/\/www.cityoflondon.gov.uk\/supporting-businesses\/economic-research\/research-publications\/city-statistics-briefing\" class=\"ssrcss-f6h2dj-InlineLink e1kn3p7n0\" rel=\"nofollow noopener\" target=\"_blank\">up more than 25%, external<\/a> on pre-pandemic levels &#8211; and contributes \u00a3109bn to the UK economy, about 4-5% of the UK&#8217;s gross domestic product (GDP). <\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">According to the <a href=\"https:\/\/commonslibrary.parliament.uk\/research-briefings\/cdp-2025-0153\/\" class=\"ssrcss-f6h2dj-InlineLink e1kn3p7n0\" rel=\"nofollow noopener\" target=\"_blank\">Office of National Statistics,, external<\/a> London as a whole contributed \u00a3618 billion in 2023, about 22% of the UK&#8217;s GDP.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">&#8220;If the City of London does well, it will be felt in everybody&#8217;s pockets,&#8221; said Mr Hayward.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">&#8220;I am hoping the chancellor will announce measures to stimulate growth and global competitiveness,&#8221; he added, having called the sector the &#8220;engine room&#8221; of the UK.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">He also wants to see <a href=\"https:\/\/www.gov.uk\/tax-buy-shares\" class=\"ssrcss-f6h2dj-InlineLink e1kn3p7n0\" rel=\"nofollow noopener\" target=\"_blank\">stamp duty on shares, external<\/a> removed, and to ensure Chancellor Rachel Reeves does not raise taxes on financial services.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">He also stressed the importance of welcoming new technologies and AI &#8211; rapidly growing sectors. <\/p>\n","protected":false},"excerpt":{"rendered":"Chris Hayward, leader of the City of London Corporation, is keen for the Budget to help boost London&#8217;s&hellip;\n","protected":false},"author":2,"featured_media":273077,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[84,1294,56,54,55],"class_list":{"0":"post-273076","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-economy","10":"tag-uk","11":"tag-united-kingdom","12":"tag-unitedkingdom"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/273076","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=273076"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/273076\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/273077"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=273076"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=273076"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=273076"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}