 globally outside of US in 2021 – it's where the world comes to do business. This week I witnessed the flotation of CAB Payments on the London Stock Exchange. Talking with Bhairav Trivedi, its chief executive, felt a world away from the doomsters of Westminster. Here was a fintech company based in Sutton, doing business across the world, now available to UK shareholders that can participate in their journey of growth. This is a prime example of the continuum of access to capital which forms part of the Chancellor's vision for a 'Silicon Valley' UK. Nonetheless, we face a challenge – a reduction in the number of domestic listed companies between 1997 and 2019, a trend mirrored in other Western markets such as the US and France. The Chancellor will reveal more how we will tackle this head){kind=link}
The Chancellor’s comprehensive reform plan will ensure Britain’s capital markets remain a world leader
The UK’s legacy as the home of capital markets runs deep within the veins of our great nation.
It is a golden thread that has been woven throughout our history, from the humble beginnings of 17th century stockbrokers huddled in cafes to the ground-breaking reforms that democratised shareholding under the leadership of Margaret Thatcher.
Today we stand at the threshold of a new era for this sector which touches every part of the UK. 2023 is proving to be a banner year for the financial services reform.
Just last week, we successfully passed the Financial Services and Markets Act into law, setting the stage for growth and dynamism. This landmark legislation, coupled with the good progress being made in delivering the Chancellor’s ambitious Edinburgh Reforms, will unlock billions of pounds of investment in the finance sector to help grow the economy.