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Chancellor Rachel Reeves is supposed to start a “concierge service” to rotate the path for international financial services companies that are drawn in Great Britain in Great Britain and expand them, which is part of their efforts to increase the city of London.
Reeves will use your speech in the Mansion House next week to set up a “single front door” for investors and help them to control problems such as visa and regulation, in recognition that Britain is enclosed in a violent struggle for economy with centers such as Paris, Singapore and New York.
The Chancellor will give her speech before City Grandees against a background of Negative economic growth in May and worried that she may Increase taxes on companies and banks In her autumn budget to fill a growing financial hole.
Reeves will try to get back to the forefoot after the government’s retreat to the government’s withdrawal to welfare reforms, but there are signs that the Chancellor becomes careful in view of the view of Your last setbacks.
The Financial Times revealed on Friday that Reeves had taken plans to terminate Reforms of cash Isas – intends to increase the investments in British companies – in her speech in her speech in your Villa House after a counter reaction by construction companies and consumer groups.
The idea of a financial service “Concierge Service” – also – Supported by the Bank of England – will emulate similar tailor -made services in other financial centers such as Singapore.
An official of the Ministry of Finance said that the step would “help to bring the Great Britain in the global race to the financial transaction as part of the far -reaching strategy in order to double the global strengths of the United Kingdom”.
Reeves will use the talk to open a financial services plan – the sector is one of eight “growth” sectors that are identified in the government’s industrial strategy – and announce other initiatives to increase their competitiveness.
The concierge service, which starts this autumn, will offer what the Ministry of Finance “calls a single front door to attract international financial services companies to Great Britain”, including the support of companies to receive Visa and advise regional skills and specialist knowledge outside of Londons.
A government official said that the service in the investment office would also bring the supervisory authorities together to help companies navigate through British bureaucracy.
It is set up as a public-private partnership between the Prudential Regulation Authority, the Financial Conduct Authority, the City of London Corporation and the government with secondments and partnerships with financial services companies.
The City of London Corporation, which developed the idea, said this week that the United Kingdom recorded a decline in the market share of foreign direct investments in financial and professional services, with the proportion of 4 percent back between 2017 and 2024.
The Chancellor’s speech will also include plans for the selection of certificates and investor communication in a long -awaited step to save money by digitizing the registration of the shareholder registers and reconciling the United Kingdom with many other countries.
The scrap of physical stock certificates is generally considered the first step to modernize the communication of companies in Great Britain with their shareholders. The aim is to estimate two tons of paper notifications and reports that are sent to Depotian Banks every day, most of which can be seen directly in the trash can.
Sir Douglas Flint, Chairman of the Asset Manager Aberdeen Group, was appointed three years ago by the ministers to check the system as part of the efforts to revive the sick capital markets of Great Britain, which were met by a number of companies that are moving their main requirements in overseas or privately.
It is expected that Reeves announces that Great Britain will initially switch to a twin track system that reflects the current facility in digital form with subregisters and a central depot. It will describe a longer -term plan to switch to a single, central digital action.
Flint, which describes both options in an interim report two years ago, will probably state the details of the digital switch in a final report on Tuesday, including plans for dealing with millions of paper proportion certificates that are no longer connected in the hands of “lost” owners who are no longer connected.
