Fatema Orjela, private equity partner at law firm McDermott Will & Emery, added:

“The financial services industry is a great asset to the UK and it’s encouraging that the Government are seeking to show that we want to keep our edge and our hard fought talent. Any step taken to protect the tax treatment of those participating in the industry appropriately and fairly would no doubt be welcomed by those directly involved and serve to fuel continued value creation for the UK economy for the benefit of all.”