Financial services bosses call for ‘bold’ action as they hope for a period of political stability
The Labour party’s promise of a programme of “national renewal” after sweeping to power on Friday has sparked hopes among City of London executives for a prolonged period of political stability. Some corporate bosses called for “bold” action to boost the UK’s capital markets but top of the agenda was a desire for a period of predictability after years of disruption caused by Brexit, the pandemic, Liz Truss’s disastrous 2022 “mini” Budget and frequent changes of political leadership.
CS Venkatakrishnan, chief executive of Barclays, said “inspiring a culture of informed equity risk-taking is critical to the growth of the UK’s next generation of technology companies, and reinvigorating our public markets”. Paul Geddes, chief executive of Evelyn Partners, added that making London more attractive would “not only increase domestic interest but also encourage foreign investors to increase flows to the UK exchanges”.
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