Both the chancellor and shadow chancellor have welcomed HSBC鈥檚 decision to as a positive step for banking.
On a visit to Birmingham, shadow chancellor Ed Balls said the banking giant will be better-placed to serve its communities in Birmingham than in Canary Wharf.
Meanwhile, chancellor George Osborne told the Post the announcement showed there was a 鈥渢ruly national recovery鈥.
Mr Balls said 鈥淭his is a real vote of confidence in Birmingham and the local Labour leadership. This will bring in thousands of jobs and help spread opportunities outside of London and the South East.
鈥淚t is also a symbol that banks are going to serve our communities more than they have in the past.鈥
The move, announced this afternoon, means while the investment bank remains in London, HSBC's head office for personal, business and corporate banking will be at Arena Central by 2018.
The chancellor said: 鈥淚鈥檓 delighted that one of Britain鈥檚 biggest companies, HSBC, is coming to Birmingham to set up its new 海角视频 headquarters. The announcement today means 1,000 jobs for the city and a major boost for the Midlands as the engine for growth in Britain.
鈥淥ur long term economic plan is all about building up our great cities outside of London and creating a truly national recovery, and I鈥檓 glad that our financial industry is contributing to that.鈥
