1. Innovative 2. Reach of 3. Regulatory 4. Access to 5. Resilient business Our global offer to business: ecosystem 昀椀nancial activity environment talent and skills infrastructure London and the UK’s competitive 12 strengths supporting economic growth The UK is the largest centre for London is the world’s largest centre for international bond issuance international bonds. London New York City Singapore Frankfurt Paris Hong Kong Tokyo The UK is still the largest centre for international bond issuance, but the value of outstanding international $1,200bn bonds in the UK fell 5% in 2022 to US$3.2tn. The US was more than US$800bn behind, in second place. The amount of outstanding international bonds fell across all GFCs in 2022 except Singapore, $1,000bn although still a fraction of the UK market. Gross issuance also fell across all GFCs in 2022 as interest rate hikes took hold. The UK saw a 10% decrease in issuance while other GFCs saw an average fall of 18%. 800bn Overall, the UK retains the highest share of international bond issuance. Source Bank of International Settlements 2023 600bn Vision for Economic Growth 400bn Big move: Big move: Fully implement a programme Maximise the e昀昀ectiveness of of change for UK pension and every pound of government insurance funds. These reforms support for growth companies. 200bn will bene昀椀t long-term savers Government deploys 昀椀nancial while also supporting growth support across the economy, #1 companies, infrastructure, and nationally and locally. Clarifying the wider economy. how these disparate funding the UK is the largest centre for schemes align to major strategic international bond issuance outcomes would provide 0 strong signalling. 2017 2018 2019 2020 2021 2022