With the Autumn Budget being presented today, Judopay CEO Anant Patel is calling upon the UK government to recognize the importance of Fintech for the UK economy. Patel sees a need for collaboration in the Fintech sector that will “create jobs and wealth, supporting social spending without resorting to immediate, painful income tax hikes.”
“The forthcoming budget is likely to have one big ticket item: an increase in income tax to fund social spending. Although this is welcome news, and has been a long time coming, as one of the companies working in the UK’s finance industry, we would urge this government to consider the possibilities in the Fintech space to adopt new technology and work in international collaboration create jobs and revenue,” said Patel.
He noted that the UK Fintech industry generated $7.2 billion in investment in H1 of 2025, down slightly from the same period on 2024.
“Year on year, the amount invested in UK Fintechs has declined, and yet the wider finance industry employs 1.1 million people, and 69% of firms plan to hire in 2025. The UK government should be doing what it can to turn that downward trend in investment around – any new business has the potential to be the next Klarna or Revolut.”
Patel said they do not want corporate tax cuts or deregulation. What the Fintech industry needs is targeted interventions to “bring down barriers between ideas and investment.”
“That could mean startup incubators, but it could also mean looking around the world to see what is working in countries where FinTech investment is thriving. It could also mean making closer ties with the EU and US: the former to adopt its AI policies and instant payments architecture, the latter to be part of the push for stablecoin adoption and digital currency. It also means looking outside of London for great companies who could be world-leaders.”
Patel says there is a huge opportunity to create jobs and wealth.
“…doing so will mean not having to raise taxes or cut services because growth will be supporting spending. The Fintech industry would be the ideal place to start building a better economy.”