Financial Services: Edinburgh
The question
To ask the Secretary of State for Scotland, what steps he is taking to encourage the Scottish Government to support Edinburgh's financial sector.
Answered by Kirsty McNeill
Promoting economic growth is one of the Scotland Office’s priorities and I am proud of the contribution of the financial services industry to the Scottish economy, with recent figures showing it is now worth £14.8 billion in GVA while directly supporting 148,000 jobs. Edinburgh makes up a sizeable proportion of Scotland’s overall financial and related professional services industry, employing 57,290 people.
To build on this sectoral success the UK government is developing a long-overdue industrial strategy, with financial services one of the priority sectors. This will ensure that the sector in his constituency is key to attracting investment and help support businesses in Scotland and across the UK.
The Secretary of State meets monthly with the Deputy First Minister to discuss a wide range of shared economic growth priorities.
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