If I Were Chancellor
If I were Chancellor... Avinash Persaud, Saker Nusseibeh, Tom Brown, Robert Rhodes QC, Stephen Beer, Stephen Hockman QC, Philip Ross, Will Pomroy, Fatima Hassan, Todd Foreman, Alan MacDougall, Allen Simpson, Eleanor Blagbrough, Will Martindale, Robert Allen, Faz Hakim and Eddie Heaton, Tom Sleigh, Emily Benn, James Shafe, David White and Jack Edwards. A collection of essays from Labour in the City 2 WELCOME FROM CICERO Cicero is delighted to support Labour in the City in the publication of its first policy pamphlet. Through our role as a leading public affairs consultancy, representing many of the major British and global financial institutions in the City of London, we recognise the importance of creating a deeper dialogue between those working in the financial sector and those working in the policymaking community. This publication marks a significant contribution to that dialogue. Against the backdrop of the banking crisis, and the era of austerity which has been ushered in since 2008, there is understandable public and policymaker concern at the role of financial markets, and their ability to address Britain’s long standing ills, many of which are addressed in this publication. Notably, this concern focuses on the need to encourage greater long-term investment, boost access to both debt and equity finance for businesses and households, and address the regional and sectoral imbalances within our economy. Britain cannot afford to rely too heavily on London and its financial district. While this debate has justifiably led some to call for a more responsible and ‘socially useful’ financial sector, we must recognise the undeniable benefits the financial sector already creates for the UK, adding nearly £200bn in Gross Added Value to the UK economy in 2011, supporting over 2 million British jobs directly and indirectly, and providing an annual trade surplus of £47bn.
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