Following Rishi Sunak’s Spring Budget announcement, Business Leader spoke to some of the UK’s top tech entrepreneurs about the future for the sector.
Russ Shaw CBE, Founder of Tech London Advocates & Global Tech Advocates said: “This Budget is all about backing tech in a big way. This government should be applauded for committing heavily to digital innovation as a route to the economic recovery and supporting jobs. The tech sector will welcome the majority of the Chancellor’s spending commitments in what will be a step change for our digital businesses as we emerge from this crisis. From the ‘Help to Grow’ scheme to ‘Future Fund: Breakthrough’ – these are bold steps in the right direction.
“If we want a more sustainable, more advanced and more productive economy, we must put in place the infrastructure, capital and skills needed to create world-class verticals in fintech, quantum, life sciences and crucially, green tech – which the government has correctly identified.
“Brexit is in danger of restricting some of our most promising tech firms from accessing overseas talent, which makes the new fast-track visa a welcome remedy to the growing skills gap. With big public investment in science and innovation, the government must complement this with a renewed focus on digital skills, working in conjunction with the private sector, to support skilled talent who will fulfil these new employment opportunities.
“Listings reform will pave the way for a bumper year of tech IPO’s and spur innovation and growth in a sector that has massive potential to define this country’s future economy. As the City prepares for a year of high-profile floats, we now have a compelling set of proposals which will ensure British scale-ups remain in the UK to pioneer innovation, create jobs and generate growth.”