Make the UK the world’s best place to launch and grow a new tech business

The UK is globally renowned for its strengths in FinTech, RegTech, LawTech and life sciences start-ups. Our members in related professional services have also made increasing use of technology in recent years. Legal services, for example, is making greater use of artificial intelligence, which has the potential to lower costs for consumers over the medium to long term. However, further reform of UK capital market rules could allow our industry to make an even greater contribution by unleashing the next wave of investment into innovative businesses. 

The new Prime Minister should:

  • Embed the reforms set out in the Hill review of UK listing rules and the Kalifa review of UK FinTech.
  • Work with financial regulators to continue to establish ‘regulatory sandboxes’ to give FinTechs a safe space to test and learn, and ‘scaleboxes’ that help start-ups develop into more established technology businesses.
  • Work with regulators to ensure the UK takes a leading role in setting data standards – like DCMS’ Digital Identity Trust Framework which allows for a leaner technology driven civil service, greater efficiency and productivity in the economy and the creation of more high-skill and high-wage jobs.
  • Promote competition in both the public and private equity and bond markets so that growth businesses can get better access to scale up capital allowing them to grow and mature in the UK.
  • Continue to review how pensions can be used for longer term investment into less-liquid but strategically significant assets in the UK, including SpaceTech, BioTech, sustainable finance and FinTech.

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