Macron “eating UK’s dinner” when it comes global investment

Shadow chancellor Rachel Reeves stated that Macron, the French President, is “eating the UK’s lunch” when it involves attracting global investment.

Reeves stated today Am city France was stealing investment from British start ups post-Brexit. The shadow minister promised that pension funds would unlock billions of long-term capital for the economy.

Reeves will launch the Labor Party with Sir Keir Sternmer Start reviewTomorrow morning at Canary Wharf, the party promised a radical plan to make Britain the global high-growth hub.

The Labor Business Conference is attended regularly by some of Britain’s most important companies – executives at Aviva, HSBC, and Microsoft are present – and it is part Starmer and Reeves’ efforts to win over UK business leaders.

“Macron, in the national interest of his country, is trying to get more venture capital (VC) money into his country. The US through the US Inflation Act is trying to get investment in green industries of the future in their country,” Reeves said. Am city

“This is not a static environment – it is a dynamic environment and we have to compete globally for our share of the investment.

“We are at crossroads. Either we choose to follow the path if managed decline or we can take the task of making this the best location to start and grow a company.”

The Labor investigation was launched to examine the UK’s low levels of venture capital investments in British start-ups. President Lord Jim O’NeillPreviously, it was called “Apocalyptic”.

In 2020, the UK received $15 billion in venture capital funding, compared with $144 billion in America and $44.6 billion in China.

London also trails New York in the attraction of new initial public offerings (IPOs). Many British startups are listed overseas.

The review also calls for the replication of Macron’s technology-finance scheme. It sees France’s state investment bank helping facilitate capital inflows and encouraging start-ups incubated at British Universities.

This would include using the state-owned British Business Bank (BBB) ​​to act as a conduit between venture capital investors and British startups.

Reeves stated that the best way to ensure more British companies are listed on London’s stock exchange is to ensure they have access to long-term equity financing.

She said, “What the startups are telling me is that the problem in London and the UK is a lack patient, long-term capital, which is encouraging them look elsewhere.”

“If you find your investor elsewhere, you’ll end-up listing somewhere else.”

Tomorrow’s conference will also see Sadiq Khan, the Mayor of London, speak. He will tell businesses City Hall is “on YOUR side, not in YOUR way”

He says, “Good governments provide the foundations for companies’ success, so that our citizens can thrive.”

“You create wealth that supports our communities and jobs – which give Londoners not just an income – but a sense of dignity, pride and purpose.”