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IA welcomes the 2017 Budget’s focus on productivity and developing capital markets

Wednesday 8 March 2017

Following the Chancellor’s Budget statement today, Chris Cummings, Chief Executive of the Investment Association (IA), said:

“The Chancellor has delivered a pragmatic budget, rightly focused on boosting the country’s productivity and making markets work better for consumers.

“Solving the UK’s productivity puzzle will be central to rebalancing the economy. Our industry is committed to playing its part by helping businesses grow and by investing in new homes and infrastructure, while providing good returns for savers.

“We also welcome the Government’s efforts to support diverse capital markets in the UK with the exemption from withholding tax for interest on debt traded on a Multilateral Trading Facility, removing a barrier to the development of UK debt markets. Today’s Budget illustrates a commitment to creating a capital markets framework that works in the interests of investors and savers and one that is truly competitive globally.”

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For further information, please contact:

Alex Hogan
Communications Manager
T 020 7269 4620
M 07508 724 066

About the Investment Association:

  • The Investment Association is the trade body that represents UK investment managers who manage over £5.7 trillion on behalf of clients
  • Our purpose is to ensure investment managers are in the best possible position to:
    • Build people’s resilience to financial adversity
    • Help people achieve their financial aspirations
    • Enable people to maintain a decent standard of living as they grow older
    • Contribute to economic growth through the efficient allocation of capital
  • The money our members manage is in a wide variety of investment vehicles including authorised investment funds, pension funds and stocks and shares ISAs.
  • The UK is the second largest investment management centre in the world, after the US and manages 37% of all assets managed in Europe.