03.12.2020
The UK Government announced in the Budget yesterday that it will carry out a strategic review of the country’s fintech sector. The review will be led by Ron Kalifa, chairman of payments firm Network International and a non-executive director at the Bank of England and Transport for London.
Today, the Chancellor @RishiSunak, delivered #Budget2020 to @UKParliament 💼.
Read his speech in full. 🗨https://t.co/zi1sucm5DT— HM Treasury (@hmtreasury) March 11, 2020
Catherine McGuinness, Policy Chair at the City of London Corporation, said the fintech review is a very positive step.
“As a secretariat we look forward to working with Ron Kalifa to ensure the sector continues to drive forward innovation in financial services and enhance its role as a key growth engine for the UK economy,” she added.
📢Read my full reaction to the @hmtreasury #Budget2020 and measures announced in respect to COVID-19, fintech and infrastructure⬇️https://t.co/0VmNzr7fUT
— Catherine McGuinness (@City_McGuinness) March 11, 2020
Charlotte Crosswell, chief executive of UK fintech industry body Innovate Finance, said:
We are excited to work on this important review with Ron Kalifa and @cityoflondon. The sector continues to thrive and it is time to examine how it can grow further and continue as a global leader, showcasing the opporunities for further innovation in financial services. https://t.co/qJPvcTLW4E
— Charlotte Crosswell OBE (@ccrosswell) March 11, 2020
Chris Cummings, CEO of the Investment Association, said the trade body looked forward to contributing to the government’s review of the UK’s funds regime:
NEW: our CEO @TheIAChris on #Budget2020.
For our full statement, including our response to industry specific initiatives, click here: https://t.co/g1RsTgqFOn pic.twitter.com/0K7R0hYgLR
— The Investment Association (@InvAssoc) March 11, 2020
“The UK is already a leading hub for the investment management industry and it is vital that we remain competitive,” he added. “We are pleased that the Government has listened to our industry and will be consulting on simplifying the process for allowing investment funds set up overseas to be marketed in the UK.”
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