The Professional Services Global Competitiveness Group (PSGC) was set up in September 2008 to look at issues affecting the professional services sector.

HM Treasury has now published a PSGC report on the medium and long-term challenges facing professional services in the UK.

The report outlines a number of areas of focus for the Government, the professional services industry and professional bodies, to ensure that the sector remains competitive, including:

  • The role of professional services firms in setting global standards and promoting good corporate governance.
  • Raising skills levels across the economy, to the benefit of both professional services firms and their client companies.
  • Combining a tradition for quality and expertise with flexible working practices to deliver innovative products and services.
  • The UK's continued attraction as a global headquarters for international professional services firms.
  • Seeking opportunities for synergies with other major professional services centres, particularly in emerging markets, continuing to develop an open and constructive relationship with Government.

View Professional Services Global Competitiveness Group report, 16 March 2009