Mayor defends City and financial sector

Alderman Nick Anstee is due to speak about the future of financial services at the Forfeit Feast at the Cutlers' Hall in Sheffield, tomorrow.

Yesterday, Mr Anstee told the Yorkshire Post that he would talk about the fiscal and regulatory issues affecting the sector, and the need for "predictability, clarity and certainty" from Government policy.

He will also highlight the work being done by TheCityUK, an independent body set up with support from the City of London Corporation to promote Britain as a financial services centre.

He added: "Leeds is a great centre. The regional centres are vitally important to the offering that is TheCityUK. The competence is undoubtedly there in the regions."

Mr Anstee said that more than one million people in the UK work in financial services, and less than a third of them are based in London and the south east.

He also said it was extremely important to nurture foreign banks that had operations in the UK.

The Forfeit Feast gained its name because it was originally financed, in part, by the fines or forfeits paid by members of the Cutlers' Company who failed to attend company meetings.

Mr Anstee is due to be accompanied by the Lady Mayoress of London and the two Sheriffs of London, Aldermen David Wooton and Peter Cook and their wives.

James Newman, the Master Cutler, said: "In the current economic climate, I am sure we are in for a very lively discussion in the afternoon which, as always, will be followed by an entertaining evening."