Financial technology (Fintech), infrastructure investment, and the "re-shoring jobs" that have been outsourced to emerging markets over the last few decades will offer Britain huge potential for its economy and entrepreneurs, said Steve Varley, EY's UK Chairman late Monday.

Speaking at the Confederation of British Industry (CBI) Annual Conference, Varley said:" Unless the UK capitalizes on this there is a very real risk that we will lose out to our global competitors, Fintech, infrastructure and re-shoring could be worth 300 billion pounds (or 475 billion U.S. dollars) by 2020."

"A number as large as that could fuel a massive amount of entrepreneurial zeal across the UK," said Varley.

The Britain-based accounting and consulting agency believes that British financial technology market was worth 20 billion a year in revenue and still growing, and the latest National Infrastructure Plan of Britain envisions investment of 250 billion pounds by 2020, illustrating a clear political priority of the British government.

He said:" There's a real wave of change occurring with Fintech firms disrupting existing models across the financial services sector. The UK's position as the preeminent financial center has allowed it to attract the most ambitious start-ups from around the world."

"Investment in infrastructure is a key economic driver that would attract further private sector investment and act as a magnet for foreign direct investment," said Varley.

He suggests that Britain should have a strategy to compete more effectively for manufacturing jobs, which EY estimates a potential number of re-shored jobs available to Britain up to 275,000 by 2025.

He said this could help reduce youth unemployment from its current total of 750,000.

"This is a golden window for entrepreneurs to examine in detail the manufacturing projects that offer the biggest potential," he added. (1 pound = 1.59 U.S. dollars) Endit

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