Unlock the Editor’s Digest for free
Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.
The UK should not be an “incubator economy” that builds up new companies only for them to be sold off to overseas buyers, the new chair of the British Business Bank has said.
Stephen Welton told the Financial Times that the UK’s economic development bank wanted to fund “the big, significant companies of tomorrow” amid concerns over Britain’s ability to retain start-ups with the potential to become multibillion-pound companies.
Welton, who was appointed to the role at the state-owned lender in October, said in an interview that the BBB could support domestic companies by providing capital and by working with banks and other institutions to simplify access to finance for small and medium-sized enterprises.
He has taken over as ministers try to…
