“Firms tell us it is expensive and cumbersome to attract talent from around the world, or to move talented employees from one jurisdiction to another.
“Fintechs often tell us that they are not eligible for the EIS tax schemes – a system which encourages investment in a tax-efficient way.
“There are many reasons why more UK investors’ money is held in overseas equity funds (£272bn) than those specialised in homegrown equities (£269bn).
“And we have very different powers and remits to some of our international counterparts.”
He explained that these are just a small number of many factors which have an enormous impact on economic competitiveness and growth, which fall outside our remit.
“And as our chief executive Nikhil Rathi has said, we are at the start of a long-awaited debate about the wider markets eco-system and the role we all play in supporting it,” he added.
“We will continue to play our role in ensuring that we have safe, stable, and effective markets, which are innovative and support the flow of capital and investment as the UK seeks to drive economic growth for future generations.”
sonia.rach@ft.com
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