UK Chancellor Rishi Sunak reveals his financial strategy for the year

Major business leaders arrive at the Mansion House as UK Chancellor Rishi Sunak reveals his financial strategy for the year.

NOWADAYS it seems that no senior British politician can give a speech without someone ensuring that the contents are revealed in advance.

This is exactly what has happened with Rishi Sunak who was due to give his first Mansion House speech today (July 1) which is considered the Chancellor’s key policy speech of the year.

According to the BBC he intended to announce that he will make the UK the most “advanced and exciting” financial services hub in the world even though Amsterdam took over from London as the largest financial trading centre in Europe as Brexit changes finally came into force.

The full speech was actually released on twitter by the Treasury with teasers several hours before the Mansion House event and contained a number of promises and statements of intent.

There will be action to ensure that companies report the effects on the environment that their businesses have and what they plan to do to mitigate damage over the long term via the new Integrated Sustainability Disclosures Requirements.

He has also given an undertaking that Britain will be able to compete equally with members of the European Union especially in the financial sector but also confirmed that the USA is now one of Britain’s most important markets for finance and that positive discussions are ongoing with China.

He looks to the future with young leaders and entrepreneurs taking the stage and said “As the baton passes to a new generation of leaders in finance, I feel optimistic about the future. Ambitious at home. Confident internationally,”

Adding that he comes “With a plan to make this country the world’s most advanced and exciting financial services hub for decades to come, creating prosperity at home and projecting our values abroad.”

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