Chancellor meets tech unicorns to push London listings

In the United Kingdom, Rachel Reeves, the Chancellor, is scheduled to meet with some of the country’s fastest-growing technology companies. This meeting aims to advocate for governmental financial market reforms that would encourage these companies to consider floating on the London stock exchange. Taking place this Thursday, the discussion will include tech 'unicorns,' which are companies valued at $1 billion or more. Among those mentioned are various fintech firms, such as Monzo and Revolut, and artificial intelligence businesses like Quantexa. The goal of these discussions is to enhance the global competitiveness of London's capital markets. The Treasury has chosen not to disclose the list of attendees but aims to highlight the initiative's significance. This move comes after criticisms directed towards the government regarding their handling of the economy and the tax burdens imposed on the private sector. Rachel Reeves has previously indicated that she will not further increase taxes on businesses during this parliamentary term, in a bid to promote growth and attract investments into UK companies. Such meetings are seen as an essential step towards rebuilding trust with the private sector, especially after recent budget announcements that have left many business leaders questioning the Labour government's commitment to being pro-growth. The city's economic regulators, including the Competition and Markets Authority and the Financial Conduct Authority, are also under scrutiny for their roles in promoting growth in the financial markets. Overall, the engagement with technology companies reflects a proactive approach by the government to stimulate investment and bolster the UK’s financial standing in a competitive global market.