Speaking to Bloomberg at TheCityUK dinner yesterday (8 February), he noted the tax-free vehicle could boost investment into UK stocks.
However, although he is open to the idea, Hunt argued he is still deciding what to include in his upcoming Budget on 6 March.
“Do I want to do things that mean that more UK capital is invested in our most promising companies? Absolutely,” he added. “Something like a British ISA, it could be very good at that.”
AJ Bell calls on Jeremy Hunt to introduce ‘radical’ ISA reform
Investors had called on the Chancellor to unveil the British ISA in his Autumn Statement last year to provide a boost to the British economy and to listings in London, which have recently been on a steady decline.
Yet, although Hunt decided to set out changes to the ISA system, the British ISA was not part of those.
The Chancellor added he would like to see London become “Europe’s Nasdaq”, pointing out that the government has been reforming prospectus rules to make it easier for companies to list in the UK.
“I think you will see the London stock market really take off,” he said, while noting the government’s efforts to boost investment in UK assets from pension funds.
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