The overwhelming majority of the capital’s lawyers, accountants and architects believe that the Coalition has failed to introduce the tax breaks needed to foster innovation, according to a new study.
Professional services firms need to constantly adapt to meet clients’ demands, such as being able to advise them on opening offices in different countries, but 93% of those surveyed by London First and FTI Consulting said the Government had not provided sufficient support and needed to introduce more tax breaks.
Nearly half of the respondents, which also included those from the financial services and creative industries, said that regulation was also stifling their work.
Baroness Jo Valentine, the chief executive of London First, warned that the professional services were also concerned about restrictive immigration policies. The survey found that 90% believed that London thrived because of its diversity.
