City Minister Tulip Siddiq to Engage UK Tech Giants in Crucial Float Talks

Minister Siddiq set for discussions with UK tech leaders

Key players from the Unicorn Council such as Clearbank, GoHenry, and Zilch will engage in discussions with Tulip Siddiq, as the government aims to encourage these firms to go public in London, according to Sky News.

City editor @MarkKleinmanSky

Wednesday, October 9, 2024, 6:

On Thursday, the City's minister is scheduled to meet with several of Britain’s top tech start-ups, as part of the government's effort to persuade them to go public in London.

Sky News has learned that Tulip Siddiq, the Economic Secretary to the Treasury, is set to have discussions with the Unicorn Council. This group features members like Monzo, the online banking entity, and Zilch, a platform for consumer finance.

Ms. Siddiq is scheduled to speak at a conference hosted by Innovate Finance, a fintech trade association, prior to her meeting with the council.

Insiders indicated that participants are likely to bring up concerns like a possible hike in capital gains tax during the upcoming budget discussions this month. However, they also noted that ministers are expected to sidestep any inquiries related to tax policy given the proximity to such a significant financial announcement.

Earlier this year, the Unicorn Council was established with the goal of advocating for the policy interests of major tech firms based in the UK.

The leadership of the committee is shared among Janine Hirt, CEO of Innovate Finance; Philip Belamant, CEO of Zilch; and Charles McManus, CEO of Clearbank.

The group also includes leaders from companies such as GoHenry, Oaknorth, PrimaryBid, Revolut, and Truelayer.

Several firms on the board are anticipated to go public with their stock offerings in the near future.

Changes to the regulations for stock listings have been implemented with the aim of making the London financial market more appealing to expanding businesses, though it's still uncertain how successful these changes will be.

The Treasury did not provide a comment.

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