With the UK General Election just six weeks away, the recent Budget was an opportune time for The Chancellor, George Osborne, to set out his stall and give the UK electorate a glimpse of what a Conservative-led Government after the election would prioritise. Among the macroeconomic announcements and promises were policies solely aimed at the growing financial technology (Fintech) sector. Both the Conservative Party and Labour Party now recognise the importance of this budding industry and have been quick to publicise their aspirations for the sector, should they lead the next Government.
The Treasury said it would consult on the plans “early in the next parliament” in an effort to ensure people cannot use digital currency exchanges to conceal criminal behaviour.
Yesterday was a significant day for FinTech in the UK. Having previously made it clear that the government wants to make London the leading location for the FinTech and digital currencies sectors, the Chancellor, George Osborne, used the Budget to lay out more details of how the government intends to achieve that.
The government’s commitment to creating open application programming interfaces (APIs) for banks will help modernise the financial sector and improve customer services, experts have claimed, as well as putting pressure on incumbent lenders to become more innovate quicker.
Chancellor George Osborne announced a range of Budget measures to help the growth of technology and digital government across the UK. The Chancellor, George Osborne, has delivered his final Budget before the 2015 general election – and has included a range of measures to help support the growth of technology and digital government across the UK.…
At the annual presentation of the budget to the House of Commons, Chancellor of the Exchequer George Osborne checked off a wide ranging list of successes as the UK economy has segregated itself from much of the rest of Europe. The contrast between the years of the Great Recession remain stark for all, but according to Osborne the UK has entered a new phase of growth and innovation. Osborne asserted that Great Britain has “grown faster than any other major advanced economy in the world” at 2.6% and “more people have jobs in Britain than ever before”. Osborne expects economic growth to be around 2.5% for 2015.