Gordon Brown and David Cameron are this week set to go head to head in a battle for the hearts and minds of British business, as each unveils initiatives aimed at boosting the competitiveness of the UK economy.

With the chancellor and Conservative leader vying to dominate the British political landscape after Tony Blair’s departure next year, Mr Brown is on Wednesday due to hold his most important meeting for years with leading City figures. He is to attend the first session of a new advisory panel which aims to promote the City as one of the world’s leading financial centres.