Recommendations at a glance:
Policy and Regulation
- Deliver a digital finance package that creates a new regulatory framework for emerging technology
- Implement a “Scalebox” that supports firms focusing on scaling innovative technology
- Establish a Digital Economy Taskforce (DET) to ensure alignment across government
- Ensure that fintech forms an integral part of trade policy
Skills
- Retrain and upskill adults in support of UK fintech by ensuring access to short courses from high-quality education providers at low cost
- Create a new visa Stream to enhance access to Global Talent for fintech scaleups
- Build a pipeline of fintech talent by supporting fintech scaleups to offer embedded work placements to Further Education and Higher Education students and Kickstarters
Investment
- Expand R&D tax credits, Enterprise Investment Scheme and Venture Capital Trusts
- Unlock institutional capital to create a £1bn “Fintech Growth Fund” of sufficient scale to act as the catalyst in developing a world leading ecosystem
- Improve the listing environment through free float reduction, dual class shares and relaxation of pre-emption rights
- Create a global family of fintech indices to enhance sector visibility
International
- Deliver an international action plan for fintech
- Launch an international “Fintech Credential Portfolio” (FCP) to support international credibility and increase ease of doing business
- Drive international collaboration through the Centre for Finance, Innovation and Technology , and launch an International Fintech Taskforce
National connectivity
- Nurture the high growth potential of the top 10 fintech clusters
- Drive national coordination strategy through Centre for Finance, Innovation and Technology
- Accelerate the development and growth of fintech clusters through further investment, such as in R&D
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