Tulip Siddiq: Labour will bolster the international standing of the City
Labour’s newly-installed City minister has promised Morning Wire readers she will bolster the international standing of the Square Mile and UK financial services.
Tulip Siddiq, in her first words to a newspaper since taking on the role as economic secretary to the Treasury, has said she will prioritise the re-invigoration of London’s misfiring equity markets.
“Our capital markets are some of the best in the world by a range of measures. But if we want Britain to be the best place to start up and scale up a business, we need our equity markets to be competitive and do more to support the growth ambitions of our most innovative companies,” she writes today.
Welcoming the Financial Conduct Authority’s “once-in-a-generation reforms” to the listings rulebook, announced last week, Siddiq said she will build on those changes.
“I made clear in opposition that this government would commit to improving the international competitiveness of the financial sector in the UK, and the listing reforms put that commitment into action.”
Labour’s first King’s Speech will be delivered on Wednesday, with the new government laying out its legislative agenda for the coming parliamentary session.