FinTech Wales comments on the Chancellor’s Spring Budget 2023
16 March, 2023
The Chancellor unveiled a Budget for growth on Wednesday 15 March 2023. FinTech Wales’ CEO responded to the proposals it laid out.
“Today’s Spring Budget provides positive encouragement that the Government values the FinTech industry.
We were pleased to see further clarity that they understand the elements required to underpin their ambition to make the UK a science and technology superpower. We’d highlight the reversing and therefore improvement of R&D Tax Credits, we’re encouraged the SEIS scheme which is so important to early tech investment is still being expanded, and are highly positive to hear the plans to unlock pension funds, which will contribute to much needed patient capital.
Pro-innovation across the country is demonstrated by the commitment to investment zones, of which will be an enormous benefit to Wales.
We’re also heartened to see that the cost of living continues to be forefront and centre of this Spring Budget. This is an area that the FinTech Sector has already made great strides in addressing and will continue to do so.” – Sarah Williams-Gardener, CEO, FinTech Wales