Spring Budget 23: Hunt teases financing reforms for start-ups

Medicine and AI

Chancellor Jeremy Hunt teased major reforms to the financing system of start-ups in the Spring Statement today (15 March), following the collapse of Silicon Valley Bank.

Hunt argued the collapse of SVB showed "we need to build a more diverse financing system" for high-growth firms. The chancellor said he would return in the Autumn Statement with a plan to "unlock productive investment from defined contribution pension funds and other sources, make the London Stock Exchange a more attractive place to list and complete our response to the challenges created by the US inflation Reduction Act". Spring Budget 23: OBR forecasts UK will dodge recession in 2023 with inflation set to fall to 2.9% He described the ‘innovation economy' as "a central area of n...