Met with the Head of Investment Banking at a global bank about Cleo going public.
The entire conversation assumed a US listing. When I asked about the LSE, they laughed.
When Wall Street mocks London’s exchange, Britain has a problem.
Future growth = technology. Every UK tech champion listing abroad means Britain loses the upside.
This Budget needs action,
@RachelReevesMP :
1. Kill stamp duty on tech stocks - no LSE tech giants, so no revenue loss
2. Accelerate Mansion House reforms - 2030 is too late
3. Launch tech ISAs - stop rewarding cash hoarding
4. 0% capital gains for founders listing in the UK
5. Outcompete Nasdaq/NYSE rules - super-voting rights, flexible disclosure
Cost to Treasury: minimal. Signal to world: huge.
Britain must compete - or decline. Choose.