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The sector contributed a gross value of £86 billion to the UK economy in 2004. [3] The industry employed around 1.2 million people in the third quarter of 2012 (around 4% of the British workforce). The estimated amount of total taxes paid by the Financial Services Sector in the year to 31 March 2012 is £63bn, 11.6% of the total UK government ...
The following list ranks countries by the share of population with access to financial services. Access to financial services is defined as the share of the adult population (population ages 15+) with an account ownership at a financial institution or with a mobile-money-service provider. The data for the ranking taken from the Global Financial ...
The estimated amount of total taxes paid by the Financial Services Sector in the year to 31 March 2012 is £63bn, 11.6% of the total UK government tax receipts. [95] Service industries, particularly banking, insurance, investment management, business services and other related financial services account by far for the largest proportion of GDP ...
The following is a list of the world's largest publicly traded financial services companies, ordered by annual sales for the latest Fiscal Year that ended March 31, 2018 or prior (all public companies with sales of $20 billion or more are included, while privately held companies are not included).
In 2021, there were 2.3 million people employed in financial services in the UK; financial centres included Edinburgh, Glasgow, Cardiff, Belfast, London and several cities in England. [24] The country was also the world’s leading net explorer of financial services in 2020.
The UK financial services industry added gross value of £116.4 billion to the UK economy in 2011. [149] The UK's exports of financial and business services make a significant positive contribution towards the country's balance of payments. Paternoster Square, home of the London Stock Exchange
Financial services in London benefited from the UK's membership of the European Union (EU), [64] although there were concerns following the decision of the United Kingdom to leave the EU. However, Britain’s exit from the EU in early 2021 only marginally weakened London's position as an international financial center (IFC). [65]
The Financial Services (Banking Reform) Act 2013 calls for a paradigmatic shift toward the principle adopted by the US of risk averse strategies. This manifests itself in the form of "ring-fencing" retail banking to protect consumers and creating requirements for certain amounts of capital to be retained to act as a buffer against market ...