Policy to Grow Legonian Financial Industry

The Legonian government announced a slew of measures to place the country as a centre for finances in the region.

The Legonian Treasury has announced corporate tax cut and subsidies for financial firms relocating to Legotown under the Bricks Financial Scheme (BFS). Some 25 financial firms have set up offices in Legotown under the scheme, employing some 900 Legonians.

"We are hoping the BFS scheme would bring in some 200 financial firms to set up offices here in Legotown, and employ some 10,000 Legonians", said a Treasury official.

The Legonian economy was badly affected by the recent Brickvid-19 virus pandemic which saw the economy contracted by about 7%.

The move to strengthen the financial industry was a political strategy by the Royal Party (RP)  under Prime Minister Winston Mofty.  The RP aims to provide more better-paying jobs for Legonians, and the financial industry has been identified as one.

King Arius meanwhile has tasked the Crown Prince to work with the Mofty government to improve the social well-being of Legonians. 

"We are looking to revamp the welfare and healthcare system to support Legonians in these hard times", said a Palace official.

"The oil and gas industry added some $124 billion Bricks dollars to our reserves last year. We are looking to spend some 10% of it on healthcare alone.  For example, we are buying newer ambulances, and improving the facilities in the hospitals", added the official.