UK Government plans FinTech visas

Rishi Sunak has announced plans to introduce new fast-track visas for FinTech employees in the next budget on 3 March.

The new visas will represent one part of a collection of moves intended to boost the UK’s FinTech sector and attract international talent.

The full “five pillars” of this strategy will be revealed contained in a Treasury-commissioned report that is planned to be delivered to Sunak shortly , according to the Sunday Times.

Other proposals include more digital training, a £1 billion fund for start-ups and amendments to listing rules on the London Stock Exchange (LSE).

The report, put together by Ex-Wordpay chief executive Ron Kalifa, will also include measures to avoid London concentration of the FinTech industry, and will suggest 10 regional clusters including one in the corridor between Edinburgh, Glasgow, and Wales.

Local hubs could receive funds from “enterprise partnerships” that could connect local businesses with local authorities.

The news comes as research indicates that London is losing ground to New York as a global financial centre and that a clear EU replacement is yet to arise.

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