Chancellor George Osborne has commissioned a report from the UK Treasury into the role that digital currencies could play in the country’s financial system, building on Britain’s reputation as “one of the most attractive jurisdictions for Bitcoin businesses.”
The report, which will be published this autumn, will outline the potential risks and benefits of cryptocurrencies. Osborne revealed the plans in today at the launch of Innovate Finance, where he also said that government plans to make Britain “the FinTech capital of the world” as part of a “long term economic plan to cement Britain’s position as the centre of global finance and global technology.” Osborne also pledged a further £100m in funding for FinTech companies.
“It’s only by harnessing innovations in finance, alongside our existing world class knowledge and skills in financial services, that we’ll ensure Britain’s financial sector continues to meet the diverse needs of businesses and consumers, here and around the globe, and create the jobs and growth we all want to see in the future,” he said.
After winning the German presidency for her fourth term, Angela Merkel must weld a coalition government or have a minority rule with the most far-right politicians seen in 50 decades.
A study of the leadership pipeline at the UK’s FTSE 100 corporates shows modest progress, but many top companies still have no ethnic minority presence.
The world’s third-largest economy expanded by 1.0% in the second quarter of 2017 over Q1, giving an annual rise of 4.0% in gross domestic product for the year to June.
The majority of the region’s 28 member states report that the situation has worsened over the past year, reports business management consultant Verisk Maplecroft.