Saving the City is still possible – here's a seven-day guide to get started

There is a stubborn irony at the heart of Britain's economic malaise. The UK still excels in discovery and creativity. Its universities, arts, media, science and entrepreneurial scene are global leaders. London remains one of the world's premier financial centres. And the UK has wealth parked in well-funded pension and insurance schemes. On paper, this should be an enviable combination.

- Peter Harrison

And yet, economic growth remains elusive. Last month, the International Monetary Fund lowered its forecast for UK GDP this year from 1.6% to 1.1%.

This need not be terminal. Much depends on making finance work for the real economy. That means reinvigorating the City to act as a link between an individual's savings and productive investment; a wedding of the country's intellectual and entrepreneurial energy with its deep pockets.

Timing is favourable. The US, distracted by domestic drama, is handing the UK a strategic opening. And, critically, the groundwork is under way. The Financial Conduct Authority is backing reform. Many key regulatory changes have already been implemented, including ensuring the City's listing rules are competitive internationally. Reviews are taking place into pensions, financial advice, ISAs and the managing of investments on behalf of others.

Momentum must not stall. It has been nearly a decade since the Patient Capital Review and the conclusions - that the UK lacks scale-up investment and suffers from risk aversion - have scarcely changed.