Shares in a newly listed payments company also flopped on its first day of trading in a further blow to London’s capital markets.
Writing in The Telegraph, Andrew Griffith, the City minister, echoed these concerns, saying the UK faces “a challenge” owing to the reduction of domestic listed companies over the last 20 years.
He added: “The Chancellor will reveal more how we will tackle this head-on.
“He will update on our comprehensive programme of reforms to Capital Markets that will make the UK an even more attractive place for firms to start, scale, and grow.”
Mr Hunt wants to make the documents that companies produce when raising capital simpler and more useful to investors.
Following a consultation, he is also set to confirm that the Packaged Retail and Insurance-based Investment Products (PRIIPs), which require companies to hand out information sheets showing customers the risks and expected returns of their products, will be scrapped.
A Treasury source said the EU-era rules have forced companies to produce “excessive transparency documents which have not improved consumer understanding”.
Mr Hunt will also reveal a long-awaited shake-up of the pensions industry, outlining a series of reforms designed to encourage new UK superfunds and drive more investment into British assets.He will also focus on incentives to consolidate existing pension pots to create the scale needed to invest in high-growth companies and other illiquid assets.
