Chancellor: Fintech plays critical role in mitigating impact of Brexit
13 Apr 2017
In comments delivered to the International Fintech Conference in London this week, an event arranged by the UK Treasury to encourage greater investment in the sector from home and abroad, the Chancellor, Phillip Hammond, said that fintech plays a critical role in assisting the UK mitigate any negative economic impact that may result from Brexit.
"We will have to strive and graft and fight to seize the opportunities - and make the most of them. That means growing and strengthening the areas – like fintech – in which we enjoy a competitive advantage," Mr Hammond said.
Whilst London was recently ranked alongside Singapore as the top destination for fintech, Mr Hammond warned that the sector must not become complacent.
"We can’t remain the number one place for fintech and the other technologies of the fourth industrial revolution by simply relying on our ingenuity, talent and openness, we have to go out and get the business."
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