One section of this year’s Budget focuses on the investment management sector. Treasury commits to work to improve the UK’s competitive position for funds:
- on taxation it will work to ensure the tax regime is simple, fair and streamlined;
- on regulation it wants to ensure a regulatory environment that applies high internationally consistent regulatory standards and remains responsive. As well as Treasury and FSA’s work to implement the Alternative Investment Fund Managers Directive (AIFMD) it will consult on changes to the Limited Partnerships Act 1907 as it applies to funds. One proposal is to give these funds the option to have legal personality; and
- on marketing it will work closely with key industry bodies to carry a global co-ordinated marketing approach.
(Source: Budget 2013)