20-06-2025
We need to make UK money work, say Britain's bosses
S tart with the £500 billion question: why are the Brits holding that sort of investment firepower in cash. Shouldn't it be going instead into more useful stuff? Start-up companies, say. Or to the likes of Blackstone or KKR? Or to Rachel Reeves's infrastructure projects? Or to funds investing in London's shrinking stock market?
Making Britain a more attractive investment destination, and putting capital to more productive work, was a key theme of The Times CEO Summit. And, given the range of views across public and private markets, it's no shock to see ideas pulling in different directions. But, as David Schwimmer, the London Stock Exchange Group boss, noted, it's 'encouraging' that at least we're now having 'great discussions' about the key issues.
Saul Klein, the boss of venture capitalist Phoenix Court, outlined the problem from the ground up. Britain is the world's No 3 for innovation, behind the US and China, which is 'remarkable' when 'our economy is 'not in the top three'. Yet, as Lionel Assant, Blackstone's co-chief investment officer, put it: 'This country is risk averse and we need to change that.'
