In last week’s Autumn Statement, Jeremy Hunt, chancellor of the exchequer, outlined a number of priorities which will likely impact UK fintech. Hunt emphasized the Government’s wish to “combine our technology and science brilliance with our formidable financial services,” as part of the goal of becoming the next Silicon Valley.
Speaking to the Autumn Statement, Bruce Macfarlane, managing partner at MMC Ventures commented: “The Prime Minister has repeatedly advocated a vision of Britain’s economic future in which science, innovation and technology feature prominently. Today, the Chancellor made it clear that spending cuts and tax rises would not hamper that vision. Mr Hunt’s announcement of his intention to turn Britain into the next Silicon Valley is hugely encouraging for emerging tech.”