Following today’s King’s Speech, Richard Stone, Chief Executive of the Association of Investment Companies (AIC), has shared his thoughts.
Richard said: “True to Labour’s manifesto and election campaign, increasing economic growth and wealth creation was at the centre of today’s King’s Speech.
“It is particularly welcome to see the priority being given to wealth creation for all, across all regions of the UK. Plans to increase investment in industry, skills and new technologies, to create a new partnership between business and workers, and to increase pension investment are all initiatives the investment company sector can assist with.
“The investment company sector is a UK success story. Bigger than any equivalent sector anywhere in the world, it has been serving investors for over 150 years. The origins of the sector were rooted in enabling investors of modest means to have access to the same opportunities as large institutional investors. That principle is as important today as it was 150 years ago, and with reinvigorated public capital markets, will enable everyone to participate in the fruits of economic growth.
“Democratising access to markets enables the gathering of capital from all investors. That capital can then be invested by skilled investment managers into areas of the economy including infrastructure, new technologies and the net zero transition. Our sector stands ready to help deliver the government’s ambitions of increasing investment in these drivers of economic growth, and give everyone access to these opportunities for wealth creation.
“We look forward to working with the new government to ensure regulation and markets operate efficiently, reinvigorating our public markets, supporting the investment company sector, and enabling wider investment and faster growth.”
