Chris Cummings, CEO of the Investment Association, commented:

“On behalf of the investment management industry, I want to congratulate Prime Minister Keir Starmer and all members of the incoming Labour Government.

“We share the new government’s ambition to drive economic growth and build the financial resilience of our nation. There is much our industry can do to support the UK economy and people across our country, and we are keen to work with the new government to deliver a fast-growing economy.“

This includes channelling productive capital into more thriving British businesses and infrastructure projects, helping more individuals to benefit from the higher pension and savings levels that investing can build, and fostering excellence in our industry with a highly skilled workforce that can continue to provide the best possible service.

The UK has a world leading investment management industry which can be the drumbeat of economic growth. We look forward to working closely with the new government to achieve these goals and deliver a globally competitive economy.”

Source: IA

Janine Hirt, chief executive of Innovate Finance, the industry body for UK FinTech, has congratulated Keir Starmer, Rachel Reeves and the Labour Party on their election success:

“Congratulations to Keir Starmer and the Labour Party on forming the next government of the United Kingdom. On behalf of the UK FinTech ecosystem we wish you success in your mission to secure the highest sustained economic growth in the G7.

“FinTech has a big role to play in UK growth as: a global champion, comprising over half the UK’s unicorn growth firms; a lynchpin of future successes, including cyber security, open banking, RegTech and data-based Net Zero solutions; and a critical driver of growth in the everyday economy, boosting productivity through more efficient payments systems and financial management and as the provider of over 60% of all lending to British SMEs.

“We look forward to working in partnership with Rachel Reeves and the new ministerial team to deliver their manifesto commitment to create the conditions to foster innovation and growth in financial services through supporting new technology, including Open Banking and Open Finance, and ensuring a pro-innovation regulatory framework.”

Source: Innovate Finance