Chris Hayward’s Post

Thrilled to see London Chamber of Commerce and Industry cover the launch of the City of London Corporation's #SME strategy! With the highest concentration of SMEs in the UK, this strategy is crucial. It will support the Growth of local businesses by providing access to the Square Mile's space, finance, data, networks, and expertise. Read more on p18 at https://lnkd.in/gRiH82P5 #BusinessGrowth #LocalBusiness

I spent an inspiring morning with members of our Young Employees Network, learning about what motivates them, sharing my experience as a young person in politics, and exploring our mutual vision for the future of the City of London. Together, we’re committed to providing the support our young professionals need to succeed. With thanks to Thomas Wrench, Eva Shackleford and Habiba Khanom for their leadership in establishing and promoting the networks.

We welcome the creation of a National Wealth Fund which could unleash a wave of funding to kick-start UK’s economic growth. Private investment will be critical for the UK to support innovative firms and emerging tech. To crowd in private investment the Government along with regulators must pursue an environment that is less risk averse and allows UK financial services to unlock its full potential amid mounting competition. Read my full statement on today's announcement here: https://lnkd.in/ePVUCzEm

Yesterday, I co-chaired a roundtable discussion with the Financial Services Skills Commission in Birmingham, alongside senior leaders from across financial services, to explore how a focus on skills can help drive growth, not only in the Midlands region, but across the country. During my visit, I had insightful meetings with Gurjit Jagpal and Fahad Naqvi of Goldman Sachs, where we explored ways to address challenges facing businesses in the region, enabling companies to scale, create new jobs, and expand into new markets. At SuperTech WM, the UK's only Tech Supercluster, Jof Walters and I looked at how cities can collaborate to maintain the UK’s position as a global leader in FinTech and keep attracting the world's top talent. Thank you to Claire Tunley, FSSC, HSBC & West Midlands Growth Company.

Unlocking growth is the most pressing challenge facing the new Labour government. To secure more funding for our public services, create high-skilled jobs, and provide opportunities for our young people to thrive, we need a growing economy. Birmingham’s financial and professional services sector is the largest outside of #London. This week, I am back in #Birmingham, listening and working with leaders from the financial, professional services, and fintech sector on ways we can strengthen our collaboration to unlock and foster inclusive economic growth. #VisionForEconomicGrowth

In her first speech today as Chancellor Rachel Reeves re-affirmed the Labour Government's plans to urgently unlock growth in the UK economy. While speaking with LBC following the election result, I emphasised how the financial services sector is pivotal to achieving economic growth, particularly increasing investment into high-growth British companies as outlined in the Mansion House Compact, to help these firms start, scale and stay in the UK.

After 14 years, the Labour Party is back in power. The City of London Corporation stands ready to work with the Government on its five missions and delivering on the important things that matter: creating more high-skilled jobs, funding for public services, and tackling the climate crisis.    As Keir Starmer starts his first full week in Downing Street he faces many challenges. But none are as serious, or as pressing, as economic growth.     The prioritisation of skills in financial services is essential for the industry to unlock growth and productivity – UK-wide. Our report, Vision for Economic Growth (https://lnkd.in/e-n6n4B4), set out the need for organisations be able to easily recruit, retain, and retrain talent to address the emerging needs of their businesses. That is why I co-chaired a meeting convened by the Financial Services Skills Commission (FSSC) today that brought together C-Suite leaders from across financial services to discuss the themes of skills and growth in financial services across the Midlands region. The meeting forms part of my financial services-focused visit to Birmingham. Even prior to the General Election, there had been substantial change for the area, with two Mayors recently elected in the Midlands.     The FSSC’s report, People + Technology (https://lnkd.in/eEUpdY-Z), identified that significant skills gaps already exist for the sector. And demand for highly skilled talent is predicted to grow - with 73% of roles in the sector defined as highly skilled, compared with 52% 20 years ago.    We heard from industry on where they see specific skills gaps emerging that we need to prepare for. AI is very clearly one such huge opportunity. Indeed, our own recent report into the future of AI and the financial services workforce (https://lnkd.in/eFXcP3h2) showed that AI is set to transform financial and professional job roles across the country – with huge potential for productivity gains identified.     But our focus must be on finding practical solutions in response to skills and growth challenges: good practice that others can learn from, as well as the unique opportunities in the region. By bringing these stakeholder groups together, we can help focus on what the most urgent asks are for a new Government, and for the new East and West Midland Metro Mayors.     Thank you to J.P. Morgan, Capital One, Coventry Building Society, Goldman Sachs, West Midlands Combined Authority, Lloyds Banking Group and Paragon Banking Group PLC for joining the discussion.  

The challenges ahead are numerous, but none are as critical or urgent as fostering economic growth – a national priority. If we want more funding for our public services like the NHS, if we want high-skilled jobs, if we want opportunities for our young people to thrive, we need a growing economy. Here in the City, the financial and professional services sector stands as one of Britain’s greatest success stories, as highlighted in the Labour manifesto. The City Corporation are committed to working in partnership with government on its five missions to help shape our economy to ensure and create a prosperous future for all. Read more in my latest column for City AM https://lnkd.in/eJdYVD6j  

Great to be on Bloomberg’s panel this morning talking about how the new government can unlock growth, harness the power of pensions;  and support our innovative sectors like fintech.