Wilson report indicates the UK needs a capital market revamp in order to attract PS1 Trillion worth of investments, according to Wilson report.

However, they must first qualify. Once certified as eligible to do so by an official, these students can proceed. Unlock the Editor’s Digest for free — Roula Khalaf, Editor of the Financial Times (FT), selects her favourite stories each week in this weekly email. In an ambitious 10-year plan to fund housebuilding, infrastructure development and start-up businesses outlined by City grandee Sir Nigel Wilson’s report (pending) this will require revamping capital markets so as to attract PS1tn of investment – Sir Wilson recently published an in-depth analysis. Report published Friday states: The UK economy and capital markets have lagged behind those in the US since global financial crisis. Wilson, chair of Canary Wharf Group, will unveil her report at an impressive gathering of executives, investors and government ministers at London Stock Exchange’s headquarters, where senior financial industry figures will issue an impassioned call to further revive UK capital markets. Wilson dismissed suggestions of stagnating economic growth, untethered political instabilities, and investor outflows from publicly listed companies – yet denied Britain is stuck in an endless cycle.He advised ministers to implement moves encouraging UK investors and pension funds to purchase domestic assets through tax measures or regulation changes. “Some changes require an evident domestic bias and we make no apology for that,” Wilson noted in the Financial Times, noting how other countries such as France, Sweden Australia and the US make use of tax and pension systems to encourage domestic investment. Wilson highlighted options such as using pension tax breaks to encourage investment in UK companies, and decreasing stamp duty which generated PS3.8bn tax revenue last year as part of her review of pensions sector. “UK retail investors currently pay stamp duty reserve tax when investing in Aston Martin shares listed in the UK; however, no such taxes apply when buying German Porsche shares or US Tesla shares,” according to this report. Wilson suggested another solution, an Individual Savings Account or Isa, designed to channel savers’ funds into London-listed shares – but according to reports in The Financial Times this week, this plan has been abandoned by the new Labour government. Wilson also advocated that UK markets need to adopt more “risk-on” mentalities following years of extreme risk aversion since 2008. He stated that PS100bn of new capital would be necessary annually over the coming decade to fund an “era of regeneration”, supporting annual economic growth of 3 per cent. Investment of between PS20-30bn per year will be needed to build 300,000 homes per year; PS20bn invested annually for offshore wind and solar power; PS8bn invested annually for water infrastructure improvements; PS15bn allocated towards expanding tech and life science businesses and up to PS8bn dedicated for electric vehicle deployment. Wilson indicated that under-investment by UK relative to other G7 economies has had a devastating cumulative effect over time, adding: “These effects accumulate.” “Our aim is to emulate Manchester City,” he noted, noting how it rose from mediocrity to success through years of intensive investment in its roster of players. RecommendedThe “Capital Markets of Tomorrow” report was produced as part of an initiative spearheaded by Dame Julia Hoggett’s Capital Markets Industry Taskforce and which seeks an overhaul of City rules to boost UK markets. Wilson stressed the significance of venture capital, private equity and debt markets to City executives’ belief that reform efforts had focused too heavily on public markets. Wilson expressed hope that, within five years, most of the top twenty UK financial services start-ups such as Revolut and Monzo would IPO in their home countries. Part of Wilson’s task was to reduce differences between governance and disclosure requirements imposed upon public and private companies in order to make listing more appealing, thus keeping more private firms private than previously. “All these private firms remain unlisted because we haven’t made public listings attractive enough yet,” explained Wilson. Watch this FT Film to discover ways you can reboot Britain’s capital markets: How To Revamp Britain’s Capital Markets | Reboot