Commenting on the Spring Statement, Chris Cummings, Chief Executive of the Investment Association, said:
“We welcome today’s commitment from government to boost the culture of retail investment, including looking at options for ISAs reforms that will get the balance right between cash and equities to earn better returns for savers. Our industry has long called for the government to create a culture of inclusive investment, which will see more people benefit from investing, and we’re pleased that the government has now heeded this call.
“Today’s statement also reiterates the central role of investment in delivering UK growth, in light of the challenging circumstances facing the UK economy and households. Investment managers are already playing an active role to deliver growth by channelling £1.4 trillion to UK businesses, infrastructure and social projects. We agree with the Chancellor that innovation is a key enabler of growth and are delivering on this through our FinTech accelerator and work with the government and regulator on fund tokenisation and AI.”
For further information, please contact:
Helen Ayres, Head of Communications: helen.ayres@theia.org
T: +44 (0)20 7269 4620
Ellen Hodgetts, Communications Manager: ellen.hodgetts@theia.org
T: +44 7548841289
IA Press Office: press@theia.org
About the Investment Association (IA):
- The IA champions UK investment management, supporting British savers, investors and businesses. Our 250 members manage £9.1 trillion of assets and the investment management industry supports 126,400 jobs across the UK.
- Our mission is to make investment better. Better for clients, so they achieve their financial goals. Better for companies, so they get the capital they need to grow. And better for the economy, so everyone prospers.
- 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.