On Wednesday, people across the country but particularly in Scotland will be celebrating Burns Night. It comes at a time when the future of the union is under close scrutiny. Despite political tensions in Westminster and Holyrood, the City’s partnership north of the border remains strong.

Financial services in Scotland have a long and proud history, from the very origins of banking and marine insurance through to the modern, full-service sector you see today in Edinburgh, Glasgow, and other centres.

A recent report by TheCityUK found that there are 145,000 financial and professional services jobs in Scotland, £690bn of assets under management, and the sector contributes nearly ten per cent of gross value added to Scotland’s economy.

Such figures underpin the fact that even though the City of London is synonymous with financial and professional services, two-thirds of the 2.3 million people employed in the sector are outside London. It was significant in this regard that the chancellor chose to launch his flagship reforms to financial regulation last month in Edinburgh. The sector is a national asset as well as a local one.

We should embrace these close ties and look to work together on the shared challenges we face.

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