The collapsing UK stock listings reflects the damage to the economy from government policy

By johnredwood on August 5, 2026

There are no surprises in the way the UK stock exchange is shrinking. The UK government is to blame. Its net zero bans, its high energy taxes, its rush to nationalisation, its lack of enthusiasm for private capital and competition, its excessive regulations and its wish to align with an EU that is also anti private capital,anti cheap energy and the digital revolution all point to money and deals rushing to the USA away from the UK and EU.

Two of the remaining large quoted UK companies, BP and Astra Zeneca, are in the news highlighting the negative impacts of UK policy on them. BP is going to sell out of its North Sea assets as they are hit by high taxes and bans. Astra Zeneca wants to merge with a large US company to dilute its UK interests and make it more of a US major. EU style controls on medical work and the limited list controlled prices model of NHS buying cause tensions with business. These two companies are in the top seven of listings by market value accounting for 14% of the Ftse 100. Were they to cancel their London listings it would be a major blow.

There are many UK companies selling up altogether as shareholders show frustration with UK valuations and taxes. Segro has been a very successful industrial property company. It is accepting a US bid well above the UK market valuation.

As the UK government plunges on with its wish to close down all our oil, gas, high energy using businesses, and cut back our food growing, so we become ever more dependent on imports. To pay for the imports we need to raise foreign currencies. Selling our best businesses to foreigners is the foolish short term way of paying for the imports.

We need to reverse the atrophy of the London Stock Exchange. That needs new UK fund raisings with a government backing free enterprise and private capital. It means reversing bans and penal taxes. I will set out how in future posts.