Industry pushes for tax change

The government promises to look at tax and over-regulation of insurance

The London insurance market has been singled out as a key part of the City’s financial services that could be more competitive globally. Concerns that London’s competitive edge has been slipping in recent years prompted the Chancellor of the Exchequer to invite chairmen and chief executives of some of the UK’s largest financial services businesses – the High-Level City Group – to his official residence in October as part of the government’s efforts to raise London’s standing as a leading international financial centre.