London has retained its position as the world’s leading international financial centre for the sixth consecutive year, according to the City of London Corporation’s latest benchmarking analysis. The report, titled “Our global offer to business – London and the UK’s competitive strengths supporting investment and growth 2026”, evaluates competitiveness using 102 publicly available data metrics across key categories, including regulatory environment, talent and skills, business infrastructure, sustainable finance, and capital markets activity.

London’s consistent performance in sustainable finance, capital markets, and technology adoption secured its top ranking among seven major global financial centres. The Corporation’s analysis, published today, positions London ahead of New York, in second place, and Singapore in third.

This self-published benchmarking, while not fully independent, highlights regulatory reforms such as the Edinburgh Reforms, the Financial Services and Markets Act, and the Mansion House Compact as factors supporting London’s edge.

The report notes particular strengths in fintech, legal innovation, AI adoption, and international financial reach, with the UK maintaining a strong trade surplus in financial services exports.

However, challenges persist. The UK lags in digital infrastructure, with slower broadband speeds compared to rivals, and weaker IPO activity and office costs relative to some competitors (though London office prices remain roughly half those in New York).

Sustainable finance leadership is emphasised, though Singapore reportedly lags in this area, while Paris trails London and New York overall.

1. London
2. New York
3. Singapore
4. Frankfurt
5. Paris
6. Hong Kong
7. Tokyo

(This selection of seven leading centres is the focus of the Corporation’s annual exercise.)

For context, independent rankings such as the widely referenced Z/Yen Global Financial Centres Index (GFCI, latest editions) typically place New York first and London second, followed by Singapore, Hong Kong, Shanghai, San Francisco, Chicago, Los Angeles, Seoul, and Shenzhen or Tokyo in the top 10. Shifts there are often modest, with score adjustments rather than major ranking changes.

The City of London Corporation’s Policy Chairman has previously stressed the need to maintain a competitive edge amid post-Brexit adaptation, tech competition, and infrastructure upgrades.

The 2026 report underscores London’s resilience as Europe’s largest financial hub and a global leader in areas like green finance and professional services, supporting investment and growth across the UK.

Analysts note that while the Corporation’s survey favours London, rival indexes incorporating more subjective surveys and broader metrics (over 140 in Z/Yen’s case) often give New York the edge due to deeper domestic capital markets and innovation ecosystems. Nevertheless, the announcement appears to reinforce London’s self-image as the pre-eminent international financial centre, attracting businesses seeking stability, talent pools, and regulatory predictability.

Manchester, Leeds and Oxford have been hailed as some of the leading powerhouses for business growth in the UK, according to a recent report. The research, conducted by NatWest and data firm Beauhurst, examined growth in terms of innovation, profit, headcount and turnover among mid-market companies across the country.

Manchester earned its high ranking due to its booming creative and digital sectors, driven by MediaCityUK and a thriving start-up environment. Oxford distinguished itself with its research-oriented businesses, many of which originated as university spin-offs before growing into significant mid-market companies.

Leeds has carved out a name for itself in the health technology sector, complementing its long-standing financial services industry, bolstered by close connections to NHS Digital and top hospitals.

While London continues to be the largest hub for profit, headcount and turnover in the mid-market, the report indicates that other regions of the UK are increasingly making their mark through innovation.

Smaller authorities also featured on the list, with Slough and Telford & Wrekin both identified as areas experiencing rapid growth.

Swindon has also emerged as one of the country’s leading hubs for climate technology, thanks to its concentration of renewable energy and clean-tech firms.

Andy Gray, managing director of commercial mid-market at NatWest said: “The UK’s economic story is no longer written only in its biggest cities. Across the country, mid-sized businesses are scaling up, investing in people and creating high-quality jobs.

“These boom regions demonstrate that entrepreneurial energy and economic resilience can flourish anywhere.”

South Cambridgeshire was identified as a burgeoning growth centre, home to a flourishing cluster of university spinouts.

Aberdeenshire also demonstrated strong performance in the innovation category, reflecting its long-standing expertise in oil and gas, now being channelled into renewable energy, carbon capture and wider climate technologies.

Local firms have reaped benefits from specialist engineering skills, proximity to North Sea projects and robust research links – aiding the area’s transformation into a hub for innovation in the UK’s energy transition.

The research centred on mid-market companies with annual turnovers between £25m and £500m – these businesses account for 26 per cent of employment and 30 per cent of UK economic Gross Value Added.

The findings also forecast that, given the right support, mid-market companies could contribute an additional £115 billion in turnover and £35 billion of Gross Value Added by 2030 – despite representing just 0.5 per cent of businesses in the UK.

Henri Murison, chief executive at The Northern Powerhouse Partnership, said: “While London remains an important location for mid-market businesses, this new report from NatWest clearly points to the impressive growth and innovation that is taking place in the North.

“As the Autumn Budget approaches, we should be backing concrete steps towards adoption and diffusion of innovation in businesses that are seeking to scale up, providing more high skilled jobs in Northern towns and cities, and playing a fundamental part in delivering the UK Government growth mission.”

Louise Hellem, chief economist at the CBI, said: “This report underlines the vital role the mid-market sector plays in driving regional growth and strengthening our economy.

“These businesses are not just surviving, they’re expanding, innovating, and investing in their communities. To fully unlock the UK’s potential and develop high growth clusters, we should harness their strengths as part of regional growth plans, ensure they are engaged in shaping local skills plans and have greater access to finance to scale.”

Redhill, located  in Surrey and just below Croydon, is facing a public inquiry over plans for the town’s ‘tallest building’. Disability activists claim the station will be made unsafe and inaccessible for some, the Redhill Residents Action Group adding their support against the developing of their “rural market town“. The residents group claim the new devlopment plan to be a “Croydonisation” of Redhill.

Solum, the developer of the controversial Redhill station project, plans to bulldoze the car park and forecourt – two towers of up to 14 and 15 storeys, as well as 255 new homes, to replace it. First rejected by the Reigate and Banstead Borough Council in October 2024, the initial plan was questioned over general worry of the height, scale, layout and design of the buildings. Now, the new plan would see the return of the taxi rank to the station’s rear, and the redirection of cyclists and drivers and cyclists to the Redstone Hill entrance.

Campaigners approached the inquiry on Tuesday, September 2, stating that the plans would exclude and “shut out” those with mobility issues, reports the Local Democracy Reporting (LDR) Service. In response, a spokesperson for the Surrey Coalition of Disabled People, Nikki Roberts, shared: “Disabled people will no longer be able to use the railway station safely,” reports the BBC.

Roberts added that government guidance suggested disabled access should remain as close to the station’s entrance as possible. Interestingly, a legal representative of the council relayed to the inquiry that the two towers would “puncture the character of the area”.

Redhill Residents Action Group’s lawyer spoke at the hearing, describing how “Redhill is not a large city but a small rural market town with only a few tall buildings”. Overall, this left the developers to present the benefits of new housing in what they dubbed a “phenomenally sustainable location” –making sure to also point out that any train improvements would outweigh the supposed harm.

Lawyer of the developer Solum, Chris Katkowski, stated that Redhill’s council was unable to provide proof of enough land that could be dedicated to housing, therefore deeming them unable meet its five-year target. The lawyer asked why the grounds of which the building application was rejected were due to it’s lack of affordable housing when the council itself was accepting of the scheme’s inability to be viable with non-commercial units.

This inquiry is set to take place over nine days, and due to adjourn on Friday. Plans for it to resume have been confirmed for November, 2025.

Rachel Reeves has been told that UK businesses have had to “hit the brakes” after she hiked taxes on employers. Sanjay Odedra, Director of Communications and Campaigns at BusinessLDN, said: “With inflation accelerating and growth slowing, many firms across the capital are hitting the brakes on hiring and showing caution on investment as they grapple with the cost of doing business.” She added: “The upcoming Autumn Budget is an opportunity for the Government to turn positive rhetoric on growth into reality.

“It’s vital that businesses do not bear the brunt of any future tax increases as they continue to feel the impact of April’s hike to employer national insurance contributions.” The expert urged the Chancellor to “instead prioritise measures that will boost the economy and encourage private investment”. Mr Odedra backed three moves to this effect.

He said: “That includes giving the green light to airport expansion plans across London and the south east to meet surging demand, backing innovative funding models that can help to pay for shovel-ready projects such as the DLR extension to Thamesmead, and scrapping the tourist tax so the UK can compete on a level playing field with our rivals on the continent when it comes to attracting high-spending visitors.”

Ms Reeves gave the green light to an expansion of Heathrow Airport in January, and said: “We are one step closer to expanding our biggest airport – boosting investment in Britain, increasing trade for businesses, and creating up to 100,000 jobs.”

The airport has said it can build a third runway for £21billion within a decade, and has submitted plans to the Government for a new full-length runway, but insisted it is open to considering a shorter one.

Hotel tycoon Surinder Arora has published his own Heathrow expansion plan, which rivals the proposal from the airport’s owners.

Transport for London’s (TfL) second consultation on proposals to extend the DLR to Beckton Riverside and Thamesmead is open.

The authority says: “We’re working with these partners and Homes England to maximise local and regional funding. We’re also finding ways to reduce costs and create efficiencies, but Government support is needed because of the size of the project.

“We have submitted a full Strategic Outline Case to Government – we need a contribution towards funding the progress to the Outline Business Case stage.

“Government capital funding would also be necessary to begin construction as early as 2028. This would enable us to open to customers in the early 2030s.”

There are “no plans” to introduce a tourism tax in England, Downing Street said in July, amid claims that Angela Rayner’s efforts to bring one in were rebuffed by the Treasury.

The Deputy Prime Minister had been pushing for councils to be allowed to introduce a tax on tourism in their areas as part of the Government’s devolution agenda, according to several media reports.

It was revealed this morning that UK inflation rose by more than expected in July as demand for summer travel pushed up air fares and food prices continued to climb, according to official figures.

Consumer Prices Index (CPI) inflation increased to 3.8% in July, from 3.6% in June, the Office for National Statistics (ONS) said.

Kris Hamer, director of insight for trade body the British Retail Consortium, said: “Households are once again seeing the cost of their weekly shop climb, with food inflation now up by 1.9 percentage points in just four months.

“This surge has been a key driver behind headline inflation, alongside a rise in transport costs, piling fresh pressure on families already being forced to cut back.

“The Bank of England has been clear that Government policies, which have driven up the costs of employment, are fuelling price rises at the till, while poor harvests and global instability have also added further cost pressures.”

The exodus of companies from the London Stock Exchange due to takeovers has reached the highest level in 14 years, in a major blow to Keir Starmer‘s government.

Forty-five firms have dropped their listings in the Capital so far this year because of mergers or acquisitions, according to figures compiled by Bloomberg, as concerns persist that economic conditions are putting off investment.

With the UK economy apparently on the brink, this year has seen a number of major deals, with the sale of video game company Keywords Studios to private equity company EQT, the sale of Virgin Money to Nationwide, and Thoma Bravo’s aquisition of cybersecurity leader Darktrace, according to The Telegraph.

The coming months are expected to bring further sales, including Carlsberg’s purchase of Britvic, and Czech billionaire Daniel Kretinsky’s bid to aquire IDS, the owner of Royal Mail.

Meanwhile, mining giant Rio Tinto, one the biggest firms on the exchange, is coming under pressure to de-list, with activist investor Palliser Capital telling the firm that its Anglo-Australian structure had cost shareholders £39.5bn.

The multi-strategy investment firm has called for an independent review of the arrangement to be launched.

It comes as business leaders and analysts have criticised the UK’s trading environment, with concerns about Britain’s ability to match other major economies.

Nikolay Storonsky, chief executive of fintech firm Revolut recently branded London listing as “not rational”, in an appearance on the 20CV podcast.

Storonsky cited the 0.5% stamp duty tax on trading as a factor, as he questioned how the UK measures up to the US.

This summer, Wealth Club, an investment platform for affluent and sophisticated investors, released its inaugural “British Wealth Report”.

It found that 55% of high-net-worth individuals feel the country does not support wealth creation or creators, while 42% consider the country an unattractive place to set up a business, as per Business Matters.

Meanwhile, 31% said they were more inclined to leave the UK for financial reasons compared to a year ago, in a major blow to Keir Starmer and Rachel Reeves.

Nicholas Hyett, Investment Manager at the investment service, said at the time: “The UK has an image problem. Wealthy investors view the country as an unappealing place to start a business, citing a culture unsupportive of wealth creators and burdensome taxation.

“These individuals are crucial to the UK economy. The top 100 earners contribute an average of £46 million in tax each, while the highest-earning 100,000 cover a quarter of the total income tax and capital gains tax bill, despite representing just 0.3% of UK taxpayers.

“This data, obtained via a Freedom of Information request to HMRC in November 2023, underscores the importance of changing this group’s perception of the UK.”

Last week, a Treasury spokesperson said in an statement to City Am that Chancellor’s “top priority is growth and making the UK the most attractive place to invest”.

“UK capital markets have raised more equity capital in 2024 than the next three European exchanges combined, and recent reforms to Listings Rules will make us an even more attractive destination for exciting businesses,” they added.

A Treasury spokesperson said: “Growth and driving more investment in the UK is our number one mission.

“Recent IPOs and listing announcements by high-growth companies like Raspberry Pi and Canal+ demonstrate confidence in our capital markets and there is more we can do to attract exciting businesses to the UK.

“That’s why we are creating pension megafunds to unlock billions of pounds of potential investment for businesses, as well as backing the largest overhaul of UK listings rules in decades.”

Express.co.uk has approached Rio Tinto for comment.