Insolvency reforms may hinder P2P loan recoveries

REFORMS to the way HMRC is treated as a creditor will make it harder for some peer-to-peer lending platforms to recover bad debts, an insolvency practitioner has warned.

Chancellor Philip Hammond announced in his 2018 Budget last week that HMRC would … Read More

Budget 2018: ‘No sign of end of austerity for SMEs’

GOVERNMENT commitments to end austerity have been labelled as “words not actions” by peer-to-peer lender ArchOver.

Chancellor Philip Hammond (pictured) said that the “era of austerity is finally coming to an end”, in his last Budget before Brexit.

However, Angus Dent, ArchOver’s … Read More

UK government appoints ex-Obama adviser for digital economy review

THE UK government has set up a panel to investigate how to ensure the UK’s digital economy remains competitive.

The panel will be chaired by Harvard professor Jason Furman, who previously advised former US President Barack Obama.

Professor Jason Furman … Read More

Chancellor appoints fintech envoys for Wales and Northern Ireland

FINTECH envoys have been appointed for Wales and Northern Ireland, to help the sector flourish after Brexit.

Richard Theo, co-founder and chief executive of Wealthify, has been named fintech envoy for Wales, while Georgina O’Leary, director of innovation, research and … Read More

New £500m fund to boost patient capital for high-growth firms

BRITISH Business Investments, the commercial arm of the state-backed British Business Bank, has launched a new £500m programme to boost scale-up funding.

The Managed Funds Programme (MFP), first unveiled in the Autumn Budget, is designed to help address the UK’s patient capital … Read More

CYBG chief named as fintech envoy for England

THE CHIEF executive of the owners of the Clydesdale and Yorkshire banks has been picked by the Treasury as the newly-created fintech envoy for England, as part of Chancellor Philip Hammond’s first fintech strategy announced this week.

David Duffy (pictured), … Read More

UK government unveils first fintech strategy

THE UK government is set to launch its first-ever fintech strategy, which will aim to make it easier for firms in the sector to comply with regulations and to partner with banks.

Reports earlier this week indicated that Chancellor Philip Hammond … Read More

Chancellor to announce new UK government fintech strategy

CHANCELLOR Philip Hammond is expected this week to unveil two large scale projects to boost Britain’s fintech sector, with blockchain technology and international cooperation high on the agenda.

Hammond (pictured), will launch a new fintech strategy at an international conference … Read More

Charles Randell named FCA chair

A FORMER lawyer who advised the government in the bailouts of Northern Rock, Royal Bank of Scotland and Lloyds has been appointed as the next chairman of the Financial Conduct Authority (FCA).

Charles Randell CBE (pictured) will take the role … Read More

EIS overhaul to boost innovative firms

THE GOVERNMENT’S overhaul of enterprise investment scheme (EIS) rules have been welcomed as a boost for the UK’s more innovative businesses.

Delivering his Autumn Budget yesterday, chancellor Philip Hammond (pictured) doubled the annual allowance for EIS investors in knowledge-intensive companies … Read More