Personnel Today
  • Home
    • All PT content
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • Brightmine
    • Learn more
    • Products
    • Free trial
    • Request a quote
  • Webinars
  • Advertise
  • OHW+

Personnel Today

Register
Log in
Personnel Today
  • Home
    • All PT content
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • Brightmine
    • Learn more
    • Products
    • Free trial
    • Request a quote
  • Webinars
  • Advertise
  • OHW+

Business performanceLatest NewsEconomics, government & businessJob creation and losses

Financial services industry provides employment for three million people

by Gareth Vorster 18 Jun 2007
by Gareth Vorster 18 Jun 2007

The UK financial services industry creates employment for three million people, with nearly half a million in banks alone, according to new research.


A report published by the British Bankers Association (BBA) called Focus on Finance, found that sector corporation tax payments amounted to £9bn – which could pay for 36 new hospitals or 600 city academies.


It finds that the financial services industry makes a £50bn contribution to the UK economy, representing 8.5% of the UK’s Gross Domestic Product (GDP), equivalent to around £850 for every man, woman and child in the country.


Sign up to our weekly round-up of HR news and guidance

Receive the Personnel Today Direct e-newsletter every Wednesday

OptOut
This field is for validation purposes and should be left unchanged.

Angela Knight, BBA chief executive said: “The financial services industry in the UK creates millions of jobs, generates wealth for the UK’s citizens, contributes some £23bn to the exchequer and provides the economic infrastructure which allows our entrepreneurs and businesses to grow.


“Without the global success of British banking there would be a gaping hole in the nation’s finances and in people’s pensions. It really is the engine room of the economy,” Knight said.

Gareth Vorster

previous post
European Court of Justice’s UK health and safety law decision hailed as “victory for common sense”
next post
Game on: simulating business through board games

You may also like

Man who juggled four council jobs guilty of...

18 Jul 2025

House of Lords votes against day-one dismissal rights

18 Jul 2025

Government launches call for evidence on unpaid internships

18 Jul 2025

Hospitality made up 45% of latest job losses

18 Jul 2025

‘Window of opportunity’ to avert resident doctor strikes

18 Jul 2025

Jaguar Land Rover to lose 500 management roles

18 Jul 2025

Gender pay gaps narrow in 2024-25

17 Jul 2025

UK job vacancies fall to a 10-year low

17 Jul 2025

Zero-hours employees may have to request guaranteed hours

17 Jul 2025

How to avoid the ‘Netflix effect’ in learning...

17 Jul 2025

  • Empower and engage for the future: A revolution in talent development (webinar) WEBINAR | As organisations strive...Read more
  • Empowering working parents and productivity during the summer holidays SPONSORED | Businesses play a...Read more
  • AI is here. Your workforce should be ready. SPONSORED | From content creation...Read more

Personnel Today Jobs
 

Search Jobs

PERSONNEL TODAY

About us
Contact us
Browse all HR topics
Email newsletters
Content feeds
Cookies policy
Privacy policy
Terms and conditions

JOBS

Personnel Today Jobs
Post a job
Why advertise with us?

EVENTS & PRODUCTS

The Personnel Today Awards
The RAD Awards
Employee Benefits
Forum for Expatriate Management
OHW+
Whatmedia

ADVERTISING & PR

Advertising opportunities
Features list 2025

  • Facebook
  • Twitter
  • Instagram
  • Linkedin


© 2011 - 2025 DVV Media International Ltd

Personnel Today
  • Home
    • All PT content
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • Brightmine
    • Learn more
    • Products
    • Free trial
    • Request a quote
  • Webinars
  • Advertise
  • OHW+