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CITYMATTERS.LONDON 15 August - 04 September 2018 | Page 5
News Matters
‘CHALLENGES OF THE FUTURE’ BEING MET HEAD ON BY THE HOME OFFICE
£6million pot
will help fund
improvement
to City force’s
fraud squad
CITY of London Police will share in a
multi-million pound funding pool from the
Home Office dedicated to fighting fraud and
economic crime.
The force’s national fraud squad was awarded
£6.1million from a £100m investment in the
Police Transformation Fund last week – with
cash freed up to help forces across England and
Wales “adapt to the challenges of the future”.
The money will be used to establish a
national taskforce for more integrated regional
working on fraud, a recruitment drive for
fraud detectives, and improved training and
accreditation for specialist officers through the
Economic Crime Agency.
The force is also planning to upgrade its data
analysis platforms to integrate information from
its own Action Fraud squad and the National
Fraud Intelligence Bureau.
A statement said that the initiative will ensure
“greater cohesion between the national reporting
service for fraud and cyber crime”, speeding
up the process of sharing data and allowing
outcomes to be automatically captured.
Transform
City of London Police’s national co-ordinator
for economic crime, commander Karen Baxter,
said the funds would “transform” the force’s
approach to fraud.
“We are very pleased to have received this
funding from the Home Office.
“The money will allow us to fulfil an aspiration
that the City of London Police has had for a long
time, to upskill police officers in economic crime
and build fraud capabilities across the country.”
Minister for policing and the fire service,
Nick Hurd, said: “Criminals don’t stand still,
and neither should our police forces. We’re
determined to support police leaders in
creating a modern, agile and responsive police
service.
“The Police Transformation Fund is delivering
real change in policing, and this new funding
will continue to help forces improve efficiency
and tackle threats like serious, organised and
economic crime.”
on the rise: despite fears surrounding Brexit implications financial services exports are on the up
Financial exports
climb by £3.2bn
FINANCIAL services and insurance firm
exports jumped £3.2billion in 2017 –
providing ammunition for Square Mile
lobbyists as they demand a favourable deal for
the City during Brexit negotiations.
Data in the annual Office for National
Statistics Pink Book – which reported record
high figures of £78bn for last year – was pounced
upon by City policy chairman Catherine
McGuinness as Britain’s divorce from the EU
continues to hit stumbling blocks.
The UK’s trade balance for the sector also
increased from £58.2bn to £60.9bn in 2017. The
surplus – the largest of any UK services sector
by some margin – plays an important role in
helping to balance the UK’s trade in goods
deficit, currently in excess of £137bn.
Deficit
And there was more positive reading for
pro-Europe campaigners as the sector’s trade
with the EU rose from £28.8bn to £32.8bn, with
the share of financial services and insurance
exports going to the market also climbing from
39% to 42%.
“The success of UK financial services and
insurance firms in exporting across the globe
plays a vital role in balancing our trade deficit,”
said Ms McGuinness.
“It also helps to support jobs around the
country, as well as providing the finance and
services needed by our international partners.”
“An increasing proportion of these exports
are going to the European Union, which only
underscores the urgent need to secure a positive
services trade deal in the Brexit negotiations.
“A poor deal on services with Europe will
mean that the sector is less able to create jobs,
generate tax, and support growth across the
wider economy.”
Beyond the EU, trade with key markets,
including the US (up from £15.4bn in 2016 to
£16.3bn in 2017), Japan (£3.9bn to £4bn) and
Switzerland (£2bn to £2.3bn), all increased.
Trade with China also increased from a
low base of £280m to £340m. Despite strong
performance in these markets, overall trade
with non-EU countries actually fell from £46bn
to £45.1bn.
Services
A recent report by the think tank Centre for
Cities and supported by the City of London
Corporation – titled London Links: The
Geography of Financial Services in the Capital
and Beyond – looked at how much individual
cities across the UK export in services, and
what proportion came from the financial
sector.
It found that cities such as Cardiff (81%),
Northampton (76%), Leeds (71%) and
Edinburgh (69%) rely heavily on finance as
their major services exporter.
Comparatively the financial sector makes up
41% of London’s entire services exports.

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For more information on these events
and a whole lot more:
The City Information Centre,
St Paul’s Churchyard EC4M 8BX
www.visitthecity.co.uk
@visitthecity | @visitthecity | visitthecity

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55 Aldersgate Street, Barbican, EC1A 4LA
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What’s clever is
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Page 16 | 15 August - 04 September 2018
CITYMATTERS.LONDON
Missed the latest edition
of City Matters?
Head over to the new look
citymatters.london
for all the latest news
and opinions from across
the Square Mile
You can also find us on Twitter
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Got a story to share? Drop us a line
at editorial@citymatters.london

www.citymatters.london
Artizan Street Library
1 Artizan St, E1 7AF
Barbican Library
Level 2, Barbican Centre, Silk St, EC2Y 8DS
Bishopsgate Institute Library
230 Bishopsgate, EC2M 4QH
City of London Information Centre
St. Paul’s Churchyard, EC4M 8BX
Coppa Club
4 St. Paul’s Churchyard, EC4M 8AY
East India Arms
67 Fenchurch Street, EC3M 4BR
El Vino Wine Merchant
6 Martin Lane, Cannon St, EC4R 0DP
Fuller’s - The Old Bank of England
194 Fleet St, EC4A 2LT
Jeeves Dry Cleaners
131 Fleet St, EC4A 2BH
J Rogers & Sons - Shoe Repair
28 Liverpool St, EC2M 7PD
Guildhall Library
Aldermanbury, EC2V 7HH
Leadenhall Market
Gracechurch St, EC3V 1LT
Merchant House
13 Well Court, EC4M 9DN
8 Bride Court, EC4Y 8DU
Nincom Soup
Old Street Station, EC1Y 1BE
Protestant Truth Society Inc -
Book Shop
184 Fleet St, EC4A 2HJ
Rome Coffee Cart
3 Fleet Place, EC4M 7RD
Scott’s Shoe Repair & Dry Cleaners
City Thameslink Holborn Concourse, EC4M 7RA
65 Ludgate Hill, EC4M 7JH
Old Street Station, EC1Y 1BE
Shoe Lane Library
Little Hill House, Little New St, EC4A 3JR
Spitalfields Market E1
Brushfield St, Spitalfields, E1 6AA
Sweetings Restaurant
39 Queen Victoria St, EC4N 4SF
The Franklin Building
124 Goswell Road, EC1V 7DP
The M Bar
48-51 Leadenhall Market, EC3V 1LT
The Natural Kitchen
15-17 New St Square, Fetter Lane, EC4A 3AP
176 Aldersgate St, EC1A 4HR
The New Black
10 Philpot Lane, EC3M 8AA
The Rising Sun
38 Cloth Fair, EC1A 7JQ
Waterstones
1-3 Whittington Ave, EC3V 1PJ
Fuller’s - The Counting House
50 Cornhill, EC3V 3PD
Pod Good Food
75 King William St, EC4N 7BE
Temple Brew House
46 Essex St, WC2R 3JF
Ye Old Cheshire Cheese
145 Fleet St, EC4A 2BU
You’ll be able to pick up your copy every fortnight from one of the above collection points.
To find out how to become a free collection hub for City Matters, please contact: 020 7481 0223

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LEVEL ONE
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+121.5
1/3
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+40
x7.5
x2
÷12
x2
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x2.5
-93
TIMES
ITSELF
TIMES
ITSELF
+8
+18
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40%
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ANSWER
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Page 24 | 15 August - 04 September 2018
CITYMATTERS.LONDON
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