Tuesday 5 August 2014 8:57 pm

Osborne vows to make London world’s centre for finance tech

Britain will offer prizes for finance technology innovators in a new bid to become the world’s leading centre for the sector, chancellor George Osborne will say today. The new drive will see UK Trade and Investment (UKTI) market the capital harder around the globe to attract more firms. And the Treasury, Bank of England and law enforcement bodies will get to work on a new framework for digital currencies such as Bitcoin. The group will publish a strategic plan in the Autumn, looking at whether the sector would be helped by regulation, or even whether it can be regulated at all. “Key to the government’s long-term economic plan is cementing Britain’s position as the centre of global finance,” Osborne will say at the event in Canary Wharf. “It’s only by harnessing innovations in finance, alongside our existing world class knowledge and skills in financial services, that we’ll ensure Britain’s financial sector continues to meet the diverse needs of businesses and consumers here and around the globe, and create the jobs and growth we want.”