Luke Graham, MP for Ochil and South Perthshire, launched a paper arguing for greater local investment by bringing back the regional stock exchanges.
In a new article entitled “Spreading the Wealth” published yesterday by the think tank, Centre for Policy Studies, Luke Graham argued for the need to establish new localised, regional stock exchanges.
The aim of this new proposal is to provide greater investment opportunities to small and medium-sized businesses in provincial towns and villages by providing accessible, nearby outlets for investment.
Prior to the 1970s there were a number of stock exchanges across the UK including Glasgow, Manchester and Liverpool. These exchanges helped raise local capital for infrastructure projects and local specialisms such as the railway construction and coal-based investments.
Writing in the article, Luke Graham argued that “regional exchanges could provide a flexible, locally focused platform for growing businesses to access investment. Modern electronic trading should mean that it will be much easier for new exchanges to be established.”
Commenting on the new imitative, Luke Graham MP said:
“I want to see small and medium size businesses in places like Alloa, Crieff and Kinross have readily accessible funding opportunities by having a local, regional stock exchange that is more accessible than just in London or Edinburgh.
By making funding less centralised, and spreading wealth across the country, it will bring more investment to Ochil and South Perthshire.”