London's Economy (2)

Questions to the Mayor of London – answered on 8th January 2021.

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Photo of Shaun Bailey Shaun Bailey Conservative

What are the components of London’s financial services sector and what percentage do they each contribute?

Photo of Sadiq Khan Sadiq Khan Mayor of London

The latest Office for National Statistics (ONS) estimates of London output are for 2018. In this year the output of the Finance sector was £67.4bn, or 15% of London’s output of £450.3bn. The output of the components of the Finance sector were as below.

Table 1: Output (Gross Value Added) of components of the Finance sector, 2018

Financial services activities

£43.3bn

64%

Insurance and pension funding

£8.5bn

13%

Activities auxiliary to finance and insurance

£15.6bn

23%

Source: ONS regional GVA statistics