Met with the Head of Investment Banking at a global bank about Cleo going public. The entire conversation assumed a US listing. When I asked about the LSE, they laughed. When Wall Street mocks London’s exchange, Britain has a problem. Future growth = technology. Every UK tech champion listing abroad means Britain loses the upside. This Budget needs action, @RachelReevesMP : 1. Kill stamp duty on tech stocks - no LSE tech giants, so no revenue loss 2. Accelerate Mansion House reforms - 2030 is too late 3. Launch tech ISAs - stop rewarding cash hoarding 4. 0% capital gains for founders listing in the UK 5. Outcompete Nasdaq/NYSE rules - super-voting rights, flexible disclosure Cost to Treasury: minimal. Signal to world: huge. Britain must compete - or decline. Choose.