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British Chambers of Commerce launch Professional and Financial Services Policy Group

Thursday 10 November 2022

The British Chambers of Commerce (BCC) has today launched the Professional and Financial Services Policy Group. The group, facilitated by the London Chamber of Commerce and Industry, convened for the first time today with representatives from chambers across the UK exploring how greater cooperation between businesses can enable growth in the sector.

The professional and financial services industry is one of the leading sectors in the UK contributing roughly £260 billion to UK gross value added.1 The purpose of this group is to explore how public policy can be improved to ensure all businesses across the sector can benefit from its growth. It will consider the key concerns of the sector and will work to identify and address regulatory issues which may be holding businesses back. The group will also ensure that businesses in these sectors are well represented and supported in cities and town across the UK.

Initial discussions have been held by the London Chamber, on behalf of the BCC, with the US Commerce Department on the strength of professional and financial services in all of the cities and towns of the UK.

Richard Burge, Chief Executive of the London Chamber of Commerce and Industry (LCCI) said:

“LCCI thanks the British Chambers of Commerce for initiating this important policy group and we are delighted to be facilitating this work for chambers across the country. London is a global hub for the professional and financial services industry, and we are well suited to bring colleagues together with this policy group and encourage growth across the UK. We look forward to working with other chambers across the country to help financial and professional services businesses to flourish.”

Alex Veitch, Director of Policy & Public Affairs at the British Chambers of Commerce, said:

“I’m looking forward to working with my colleagues from across the Chamber Network on the advancement of policy in this leading sector as part of the Professional and Financial Services Policy Group. This industry holds enormous growth potential for the UK economy, as well as for local communities and the creation of jobs. Part of our work will focus on bringing businesses from across the professional and financial services industry together, to ensure the UK remains a world leader in this area.”

ENDS

Notes to editors:

  1. https://www.thecityuk.com/our-work/key-facts-about-uk-based-financial-and-related-professional-services-2022/