2023-07-09 00:48:56
The British government will announce new measures on Monday to support its powerful financial sector following Brexit, in particular to “simplify” the financing of companies on the markets.
The aim is “to make the UK the most innovative and competitive global financial centre”, says a statement from the UK Treasury issued ahead of a speech on Monday by Chancellor of the Exchequer Jeremy Hunt at Mansion House, the residence official of the Lord Mayor of the City of London.
“I want to put in place a plan to enable our financial services sector to increase earnings for retirees [dont l’épargne est investie dans des fonds de pension]to improve investors’ income and to unlock capital for our growing businesses”, Jeremy Hunt must say in his speech to the cream of the British financial sector, according to the extracts communicated upstream to the press.
At the end of last year, the British government had already announced a set of reforms to stimulate growth in the financial sector, in particular reversing certain measures put in place in the wake of the 2008 crisis.
The objective is to defend the City of London once morest increased competition since Brexit from other European financial centers, such as Paris and Amsterdam.
With the new measures announced on Monday, London wishes in particular “to set up a new type of stock market, which allows unlisted companies to access the capital markets without going public”, in order to support their growth.
The minister is also expected to announce measures to “simplify” the procedures for listing companies on the stock market, “to encourage more companies to list in the UK”.
The number of companies going public in London plunged last year, with around 40 listings, compared to more than 100 in 2021.
The financial sector generates 100 billion pounds (116 billion euros) in tax revenue for the state, and employs more than 2.5 million people according to the Treasury.
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