Britain’s Economic Secretary to the Treasury, Sajid Javid and Financial Secretary to the Treasury, Greg Clark, have officially launched the government’s UK Investment Management strategy.
The government first published its UK Investment Management strategy alongside Budget 2013 on the 20 March 2013.
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The UK Investment Management strategy follows three broad areas where the government will act to best help the sector; taxation, regulation and marketing.
In speeches to fund management executives, Treasury ministers Sajid Javid and Greg Clark said they aim to reverse a weakening of the UK’s dominance as a centre for the funds industry.
Clark said the government’s strategy will focus on more efficient and transparent taxation, while new financial watchdog the FCA will seek to cut red tape around obtaining fund authorization.
"We also promise to consult closely with industry to ensure that opportunities to minimize costs and maximize benefits are identified and implemented," Clark said.
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By GlobalDataHe also said the government will seek to promote the UK as a fund management centre, running a marketing campaign targeting investors in Asia and the Americas.
