GOVERNMENT action to promote business and investment in the UK will be co-ordinated more closely by an agency set up yesterday, headed by insurance boss Sue Langley.
The Financial Services Office, part of UK Trade and Investment, aims to encourage firms to keep jobs in the UK instead of off-shoring roles.
Langley also hopes to make it easier for overseas firms to establish offices and hire staff in Britain.
“If this does not get results, I will be the first person to call for it to be closed down,” Langley told City A.M. “I am a huge fan of accountability, and we have got to give it 12 months to show how successful we can be an the impact we can have.”
The unit will be judged on the jobs and economic benefit it creates.
Langley is currently a non-executive director at UK Asset Resolution, which is responsible for the bad bank part of Northern Rock.
She was a director of Lloyd’s of London until 2013 and chief operating officer of insurer Hiscox until 2007.