Chancellor Jeremy Hunt has said he won't be ordering City firms where to invest their money as he looks to unlock more capital for fast-growing firms and bolster sluggish UK growth.

Ahead of his flagship Mansion House Speech to City leaders on 10 July, Hunt told the Financial Times that though he wanted more investors to back startups and more pension funds to bet on risk assets, “we aren’t going to do mandation” as part of the government's post-Brexit plans.