Chris Hayward, Policy Chairman at the City of London Corporation, commented on the Autumn Statement, highlighting the Chancellor’s focus on prioritizing economic growth and fostering a business-friendly environment in the UK, which he believes will attract global investment.
He noted the importance of ongoing pension reforms, particularly for improving returns for savers, referencing the Mansion House Compact. Hayward expressed optimism that these reforms would revitalize British listings and emphasized the need for increased pension investment in UK equities to support innovative local businesses. He welcomed the introduction of the new Growth Fund, designed to fulfill Mansion House Compact pledges by channeling investments into high-growth companies and startups.
Hayward also stressed the significance of enhancing foreign direct investment, applauding the Lord Harrington Review’s recommendations, including a ‘concierge’ service to attract foreign investment. He lauded the permanent implementation of the full expensing policy, which he believes will facilitate investment and make it easier for business visitors to work in London.
Finally, he underscored the urgency of implementing these changes to fully capitalize on the opportunities they present, calling for a focus on effective delivery.
