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City of London

Volume 712: debated on Monday 5 October 2009


Asked by

To ask Her Majesty's Government further to the answer by Lord Myners on 2 July (HL Deb, col. 328), what is their estimate of the contribution to United Kingdom tax made by firms in the City of London, split between investment management, investment banking, other banking and insurance. [HL5320]

Total tax and national insurance contributions collected from the financial sector are estimated to be £32.5 billion in 2008-09. Estimates are not available for the different sub-sectors requested.