25 August 2016
Find out more

Fintech players back UK's Startup Manifesto

04 September 2014  |  7208 views  |  0 London - Big Ben

Heavy hitters from the fintech community have backed a 'Startup Manifesto' offering recommendations to the next UK government on everything from tax to visas to bitcoin.

The document, put together by the Coalition for a Digital Economy (Coadec) and backed by over 175 startup founders and investors, is designed to influence British political parties as they begin to put together their own manifestos ahead of next May's general election.

It offers up 24 ways in which the next government can make the country a "world leader in digital innovation".

Fintech players, including TransferWise co-founder Taavet Hinrikus, Funding Circle CEO Samir Desai, MarketInvoice chief Anil Stocker and GoCardless's Hiroki Takeuchi, have put their names to the manifesto and their influence can be seen in one of the 24 recommendations: "Continue to support fintech innovation."

The document welcomes the efforts of the UK Treasury and Financial Conduct Authority, noting Chancellor George Osborne's warm words for the fintech industry at the recent launch of Innovate Finance.

The next government should look to tackle barriers to innovation, says the manifesto, particularly by ensuring that HMRC becomes "one of the first tax authorities to establish a framework relating to tax, VAT and other compliance requirements related to cryptocurrency".

In addition, the government should look at anti-money laundering and know your customer rules and how they affect digital businesses, particularly as we move to a world of digital proofs and secure online identity assurance.

More generally, the manifesto calls on the return of tax relief for corporate venture capital, changes to the visa system to boost access to talent, investment in digital infrastructure, and a commitment to open data.

Gerard Grech, CEO, Tech City UK, says: "By shinning a spotlight on the key priorities for digital businesses, we can work together to support the needs of Britain's entrepreneurs and the continued growth of the UK's technology sector."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

VCs join fintech gold rush

VCs join fintech gold rush

08 August 2014  |  12196 views  |  0 comments | 35 tweets | 22 linkedin
UK fintech industry bands together to push innovation agenda

UK fintech industry bands together to push innovation agenda

06 August 2014  |  10441 views  |  0 comments | 21 tweets | 6 linkedin
Osborne looks to virtual currencies in bid to make UK world fintech capital

Osborne looks to virtual currencies in bid to make UK world fintech capital

06 August 2014  |  7978 views  |  0 comments | 20 tweets | 7 linkedin
New York set to overtake Silicon Valley as fintech startup hub

New York set to overtake Silicon Valley as fintech startup hub

26 June 2014  |  12093 views  |  0 comments | 31 tweets | 16 linkedin
FCA to foster fintech innovation; Treasury pushes P2P, APIs and virtual currency

FCA to foster fintech innovation; Treasury pushes P2P, APIs and virtual currency

30 May 2014  |  14049 views  |  1 comments | 25 tweets | 17 linkedin
UK crowdfunding market raises £1700 an hour

UK crowdfunding market raises £1700 an hour

05 March 2014  |  3785 views  |  0 comments | 11 tweets | 8 linkedin
UK government to lend £40m through Funding Circle

UK government to lend £40m through Funding Circle

21 February 2014  |  5251 views  |  1 comments | 6 tweets | 4 linkedin
UK govt to allow P2P returns within Isas - Telegraph

UK govt to allow P2P returns within Isas - Telegraph

03 December 2013  |  3437 views  |  0 comments | 6 tweets | 1 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
Find out moreVisit capgemini.comVisit www.abe-eba.eu

Top topics

Most viewed Most shared
hands typing furiouslyBlockchain: what to expect for 2017?
8183 views 0 | 54 tweets | 46 linkedin
hands typing furiouslyBig Data's Three Big Trends in 2016
6965 views 5 | 22 tweets | 13 linkedin
hands typing furiouslyHow Banks Are Losing Millions by Ignoring...
6414 views 9 | 22 tweets | 8 linkedin
Nordea looking for AI and blockchain breakthroughsNordea looking for AI and blockchain break...
6116 views comments | 17 tweets | 19 linkedin

Featured job

Find your next job