The junior share market, Aim, should be scrapped as part of radical measures to help the London capital market attract and retain more technology-based world beaters of tomorrow, two think tanks have recommended.
The former Alternative Investment Market was “not fit for purpose” and had failed to attract, nurture and provide scale-up capital to the most promising fast-growth companies, according to a joint report from the Tony Blair Institute for Global Change and the centre-right think tank Onward.
It should be merged with the main market of its parent, the London Stock Exchange, with qualifying companies entered into a new fast-track category which would continue to benefit from the same tax perks enjoyed by Aim stocks.
The recommended axing of the junior exchange came alongside