ARTICLE
8 March 2021

Budget Tech Roundup: Fintechs Salivate Over £100 Contactless Transactions

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Morrison & Foerster LLP

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Known for providing cutting-edge legal advice on matters that are redefining industries, Morrison & Foerster has 17 offices located in the United States, Asia, and Europe. Our clients include Fortune 100 companies, leading tech and life sciences companies, and some of the largest financial institutions. We also represent investment funds and startups.
Simon Arlington spoke to Verdict about Chancellor Rishi Sunak's spending plans in the UK budget announcement
United States Technology

Simon Arlington spoke to Verdict about Chancellor Rishi Sunak's spending plans in the UK budget announcement, which included the launch of a new £375 million fund - the Future Fund Breakthrough - allocated to invest in sectors such as life sciences, quantum computing, and clean tech.

"[With] cash-rich foreign investors looking to capitalize on a devalued pound, government investment is unlikely to deter founders from selling their businesses to entities in the U.S. or Asia if the deal is right - even if Lord Hill's recommendations of reform to the public listing process are implemented," Simon said. "While it remains to be seen how active an investor the government will be, there is a lot it could do beyond direct investment to encourage the UK's top innovators to remain in the UK."

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