Labour to announce review to ensure more start-ups list in London
Labour will tomorrow launch a review that aims to ensure that the UK is the best place in the world for start-ups, with the party wanting more to go public in London.
Shadow chancellor Rachel Reeves has enlisted former Tory Treasury minister, and renowned economist, Lord Jim O’Neill to “explore how to ensure start-ups can thrive and grow in Britain, to boost jobs, investment and economic growth across the country”.
This will include looking at how to increase access to capital, incentive for growing businesses in the UK and how to boost diversity among entrepreneurs.
It comes after a series of British tech unicorns in recent years have decided to float in New York over London, including car retailer Cazoo and electric vehicle maker Arrival.
Reeves said “the small number of start-ups listing in the UK and the stubborn obstacles preventing many of them from scaling up” was a “real worry”.
O’Neill said: “The more all political parties support the eco-system of start-ups for the UK, the more they become entwined in the DNA of policy thinking for the future.”