In another win for Brexit Britain, the UK has become the top destination for investment in financial services, according to EY. The UK pulled in a whopping 108 financial services projects last year, a sharp rise from 76 in 2022, leaving European competitors in the dust. Economists point to the post-Brexit regulation-slashing Edinburgh reforms unveiled last year for the surge in investment.
The so-called powerhouses of Europe, France and Germany, trailed behind in second and third place, securing a meagre 39 and 38 foreign direct investment (FDI) projects in 2023 respectively. The UK represented 28% of all financial projects in Europe. Anna Anthony, EY UK financial services managing partner, said:
“The UK didn’t just maintain its lead as the most attractive European financial services market last year; it extended it significantly.”
So much for the City armageddon that was promised…
Sarah Pochin at Reform Scotland’s manifesto launch event: “I really wanted to come on in a Reform tartan burka, but apparently I wasn’t allowed… One day let’s do one of these events not live-streamed. We’ll do all the naughty stuff…”