Brexit LIVE: London to ‘break free from EU rule’ with new Brexit financial freedoms
Brexit Britain is ‘full of opportunities’ says John Redwood
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Jonathan Hill was commissioned by the Treasury to undertake a review to changing company listing rules.
In the newly published review, the former EU commissioner for financial services said company founders should hold more votes than other shareholders.
The new measures would allow them to retain control over their businesses.
Alongside this, Lord Hill said an annual report on the state of the City, and its competitive position should be delivered to Parliament by the Chancellor.
The review also recommends rebranding and repositioning the London Stock Exchange’s standard listing segment to increase its appeal to companies of all sizes and types.
Lord Hill said the proposals would close “a gap” and attract more firms to list in London in a bid to help the City overtake Amsterdam as Europe’s top share trading hub once again.
Lord Hill, added: “The recommendations in this report are not about opening a gap between us and other global centres by proposing radical new departures to try to seize a competitive advantage.
“They are about closing a gap which has already opened up.”
The Chancellor said: “We asked Lord Hill to lead this review because we wanted bold ideas.
“The UK is one of the best places in the world to start, grow and list a business – and we’re determined to enhance this reputation now we’ve left the EU.
“That means boosting the UK’s business environment and making sure we continue to lead the world in providing open, dynamic capital markets for existing and innovative companies alike, whilst protecting the high standards that underpin our status as a world-leading financial centre.”
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7.30am update: Jewish Community “struggling for Kosher meat” due to Brexit
The Jewish community is struggling to get kosher meat in time for the Passover festival due to the Northern Ireland Protocol, the DUP has said.
The post-Brexit trade arrangements have also disrupted supplies of specialist cricket soil known as loam from Great Britain.
Northern Ireland has a small Jewish community centred around north Belfast and a central part of the Passover meal is lamb.
First Minister Arlene Foster said: “This is something which is very concerning.”
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