The United Kingdom has been very vocal, and aggressive, in courting financial firms and FinTech startups. Chancellor of the Exchequer George Osborne wants the UK to be the world leader in developing innovative FinTech firms. Osborne enjoys a partnership with his objective in Prime Minister David Cameron. The PM recently signed up to support the UK FinTech 2020 Manifesto created by Innovate Finance. So it should come as no surprise when the UK government publishes a document that is a step-by-step guide to setting up a financial firm in the UK. Published with the assistance of Deloitte, the document (embedded below) declares the UK as the leading exporter of financial services in the world. It probably helps that the UK has a low corporate tax environment (the US has one of the highest thus incentivizes “inversion“) and a regulatory approach that encourages competition. Perhaps some other countries may stand up and pay attention?
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