Written question asked by Lord Birt (Crossbench) on Wednesday, 24 April 2024, in the House of Lords. It was due for an answer on Thursday, 9 May 2024. It was answered by Baroness Vere of Norbiton (Conservative) on Thursday, 2 May 2024 on behalf of the Treasury.

Goldman Sachs

Question: To ask His Majesty's Government whether they have assessed the consequences for the UK economy of Goldman Sachs moving its head of financial institutions for Europe, the Middle East and Africa from London to Paris.

Answer: Financial and related professional services employ more than 2 million people in the UK and the Government is committed to ensuring the UK remains the location of choice for leading talent from across the world. This is part of the Government’s mission to ensure the UK retains its position as one of the most innovative and competitive financial centres in the world. Most recently, at Spring Budget 2024, the Chancellor updated on the ambitious package of reforms which will help to deliver the Government’s vision for a financial sector that is open, sustainable, technologically innovative, and globally competitive.

Secondary information