Chris Hayward, Policy Chairman at the Corporation said:
The stormy economic outlook overseas creates an opportunity for the UK to act as a safe harbour for international investment.
The City remains the engine room of the UK economy, fuelled by inward investment driving sorely-needed productivity growth in London and beyond.
Straitened public finances make it all the more important that the Corporation’s partnership with the Office for Investment, to attract firms to the UK, succeeds.
We now need bolder action to drive investment into private markets like infrastructure, property, and unlisted equity, where the UK has untapped potential.
We must also get smarter on tackling fraud. Scaling digital ID verification could add £4.8bn to the UK economy over the next five years. The National Wealth Fund should be empowered to back this kind of innovation, as part of increasing spending on research and development across the UK, particularly on digital.
In the global race for growth, competitiveness is all. Our world-beating regulatory system must remain agile without losing its renowned robustness. We will continue to work with the Government and regulators to unlock growth across the UK.
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