Home Estate Planning Humza Yousaf to visit City of London in bid to shore up Scotland’s voice in UK finance

Humza Yousaf to visit City of London in bid to shore up Scotland’s voice in UK finance

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Humza Yousaf is visiting the City of London in a bid to promote Scotland’s financial services sector.

The First Minister is set to arrive in the Square Mile today (Monday, January 29) where he will meet the Lord Mayor of London Michael Mainelli, meet with EU ambassadors and attend a belated Burns Night supper.

The Scottish National Party (SNP) leader’s visit is intended to boost links between the two areas, including on shared priorities such as green and sustainable finance, financial inclusion and social mobility.

Yousaf said: “Scotland has much to gain from strengthening our relationship with the City of London.

“Outside of London, Scotland both has the UK’s largest financial services centre and is the most attractive location in the UK for foreign direct investment. 

“By working with the City of London Corporation towards shared goals, we can continue to drive that investment, and grow our economy.”

The visit will see Yousaf and the City of London Corporation (CoLC) agree an enhanced framework to promote both sectors as centres of excellence for finance, in a bid to spread the benefits across the UK.

“This latest partnership agreement is enhanced in terms of the scope and focus of our ambition, and will ensure our priorities continue to align with those of businesses in the financial sector,” Yousaf added.

It comes as work continues to double assets under management in Scotland’s financial services sector to £1trn by 2030, outlined in Scottish Financial Enterprise’s Growth Strategy.

CoLC policy chairman Chris Hayward said: “The twin financial and professional services sectors of London and Scotland represent a critical part of the UK economy. 

“We’ve been delighted to partner with the Scottish Government on a range of issues where we have alignment and shared challenges: sustainable finance, technology, talent and growth.

“Today’s meetings and Burns Supper represent an opportunity to explore these areas and determine how we can work together for the benefit of shared sectors, economies and people.”

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