Chancellor To Open Global Markets?

Chancellor To Open Global Markets?

Alistair Darling has called for an opening up of international financial markets with the publication of a new report.  The document warns of the increased risk of financial crime and market abuse inherent in a more globalised economy.  However, it also claims the world and the UK should see benefits in increased liquidity, capital allocation and economic growth.  It concluded “The UK believes that the long-term benefits of financial globalisation are substantial.  A retreat into financial protectionism would cause damaging economic dislocation, without delivering protection against instability.

Mr Darling said “We set out the case for openness of capital and financial markets.  An openness that can underpin growth in developed and developing countries and can help us meet the key strategic challenges of our time namely tackling poverty and climate change”.

Our view

To increase wealth in the UK we need to attract overseas earnings and to be at the centre of the international and now global money business is a must.

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