Press Release 94
– SHARESOC AND UKSA, ALONG WITH BETTER FINANCE, WELCOMES THE CAPITAL MARKETS UNION MID-TERM REVIEW REPORT, AND
– URGE THE UK GOVERNMENT TO MAKE PROGRESS ON FOSTERING RETAIL INVESTMENT IN CAPITAL MARKETS
Cliff Weight, Director of ShareSoc commented, “The UK Government needs to ensure that, after BREXIT, we continue to look after the rights of individual investors.”
There is an abundance of investable private capital in the UK and Europe, with households desperately looking for positive real returns on their long-term savings in an ongoing climate of low interest rates, high fees, high complexity of investment products and financial repression.
ShareSoc and UKSA, alongside BETTER FINANCE, fully support the CMU initiative as it places UK and other EU citizens as savers and individual investors at its heart and is aimed at strengthening the link between their savings and the real assets into which their funds are deployed, as well as providing better returns.
To ensure the success of the CMU and similar UK initiatives, ShareSoc and UKSA would like to see more ambition on behalf of the UK Government with regards to action aimed at restoring confidence in capital markets and investment products.
John Hunter, Chairman of UKSA, said “reversing the trend for investments to be controlled by unaccountable intermediaries can only be beneficial.”
Cliff Weight added: “We need to foster a UK and Europe-wide equity culture. But we also need to address excessive and often conflicted intermediation and promote direct retail investments and employee share ownership.”
For more information, please contact:
Cliff Weight, Director, ShareSoc
Peter Parry, Director UK Shareholders Association