The Government should do more for small, fast-growing companies that are the “engine room” of the economy, the LSE's Xavier Rolet and fellow business leaders warn.
The Government should do more for small, fast-growing companies that are the “engine room” of the economy, Xavier Rolet, the London Stock Exchange (LSE: LSE.L - news) chief, and fellow business leaders warned.
Ahead of the Autumn Statement , the business chiefs have written to the The Daily Telegraph calling on the Government to strengthen the UK’s position as the home for small and mid-sized growth companies, through measures focused on the promotion of non-bank lending.
The signatories include Mark Florman, chief executive of the British Venture Capital Association; Oliver Hemsley, chief executive of broker Numis Securities; and Robert Hingley, director of investment affairs at the Association of British Insurers.
They call for moves to encourage the equity financing of these companies, ranging from technology start-ups to family-run manufacturers.
“The time has come for a package of measures to support our most innovative and fast-growing companies,” they said. “Removing stamp duty on small cap shares, lowering capital gains tax and fostering regulatory support for these companies will help kick-start our economy.”
Watch the Autumn Statement live with reaction and analysis from the Daily Telegraph's deputy editor Benedict Brogan and the Telegraph's Head of Business Damian Reece, from 12.20pm.