Bosses from global financial firms pressed Britain's finance minister Rachel Reeves on Wednesday to improve tax incentives for UK consumers to invest and to boost UK competitiveness, four sources briefed on the discussions told Reuters.

Finance chiefs have challenged the Chancellor over the UK’s crackdown on non-domiciled individuals, saying the policy undermined efforts to attract international talent and boost growth.

The figures will pile further pressure on Chancellor Rachel Reeves, as it suggests that the subdued economy has depressed tax receipts.