Darling to woo City with competition task force

Treasury sources have revealed Chancellor Alistair Darling has asked Stuart
Fraser, the City’s policy and resources committee chairman, to oversee the
launch of a competition task force which will be chaired and staffed by senior
industry representatives.

Competitiveness is expected to be at the centre of Darling’s speech tomorrow
at Mansion House when he unveils details of his drastic reforms to Britain’s
financial system.

One source told The Times the aim was to ‘engage with a broader
range of the City’ and the group would consider issues such as immigration and
anything which would ‘impinge on the competitiveness of the City’.

He said the group would discuss ways in which the tax system could provide
the necessary long-term certainty for multinational companies under pressure
from increased competitiveness and other global challenges.

Further reading:

Darling signals shake-up of UK’s financial system

The Times story

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