London Takes Aim at New York With Five-Year Financial Plan

A woman exercises with a dog near the City of London financial district, in London, UK, on April 30, 2021. John Sibley/Reuters

LONDON—Britain needs to ease taxes on banks and make it easier to hire staff from abroad, its financial and professional services lobby said in a blueprint to help London unseat New York as the world’s top international financial centre within five years.

The strategy paper on Tuesday from TheCityUK reiterated some ideas already aired in government-backed reports and elsewhere in recent months as the City of London looks to recoup ground lost following Britain’s departure from the EU.