Commentary

Faltering City job growth spotlights threat to finance from the Budget

The veneer of competition for talent hides a much gloomier outlook for the sector

image
Chancellor Rachel Reeves risks tipping an already fragile balance with her Budget Photo: WPA Pool/Getty Images

David Wighton is a columnist for Financial News

City jobs have been one of the growth engines of an otherwise stuttering UK economy. Over the past decade, total employment in the Square Mile has risen by half, without even a blip from Brexit. Employment in finance, excluding insurance, is up by more than a quarter to 92,000.

WSJ Logo