Lord Campbell-Savours
Main Page: Lord Campbell-Savours (Labour - Life peer)Department Debates - View all Lord Campbell-Savours's debates with the Cabinet Office
(9 years, 4 months ago)
Lords ChamberMy noble friend speaks with a lot of experience on these matters. I would point her to the very interesting Foresight research carried out by the Government, which looked into this. As a result of that, we do not think that the long-term investment decision-making by companies is undermined by high-frequency traders, which should be differentiated from algorithmic trading in the round. That said, during the last Parliament, in response to the Kay review, the Government initiated a broad review of reforms to address long-standing concerns that short-termism on the part of investors has impeded the creation of sustainable value by British companies. The Government are considering what steps are appropriate to make further progress in shifting the culture of equity markets towards long-termism.
My Lords, is it not true that many of those who ended up making a small fortune through algorithmic trading started off with a large one?
As so often, the noble Lord speaks with a great amount of insight and experience, I am sure, on this matter.