techUK chief: Government must help seize a golden opportunity to build a world-class digital economy

As the country emerges from the challenges of the pandemic, ministers and officials have a chance to build on the digital successes of the last two years, according to Julian David

Credit: kalhh/Pixabay

The Covid-19 pandemic has been one of the greatest tests the UK’s economy and society have ever faced. However, the adaptability and creativity of the British people have been central to how our society and economy weathered the lockdowns and have put the country in a better place to rebuild after the crisis. 

From where I was sitting, one of the key strands of the UK’s Covid-19 response was the way individuals, businesses, and government utilised technology to create new ways of working, connecting and shopping. Almost two years on from the first lockdown, this accelerated adoption of technology is no longer a knee-jerk response to the pandemic, with tech- and digital-led growth models being placed as central to the growth strategies of companies across the economy. 

This is a shift based on experience and success. Larger businesses and those operating in sectors which were more able to conduct their work via digital channels performed better, with those businesses that were less able to make that switch more likely to have ceased trading or to have put staff on furlough.  The most technologically-savvy companies did not just survive, but thrived, able to grow up eight times faster than their peers.

From what we see in how businesses plan to invest in 2022, tech-led growth is here to stay; Deloitte’s latest survey of chief financial officers shows that, in 2022, businesses will be focusing on investment in digital technology and acquisitions to deliver the gains in productivity and business performance that they want to achieve after the pandemic.

This sentiment was echoed by techUK’s members with over half (57%) of those who responded to our most recent Digital Economy Monitor Survey saying they plan to invest more in the UK, driven by a demand for digitisation. 

One of the key strands of the UK’s Covid-19 response was the way individuals, businesses, and government utilised technology to create new ways of working, connecting and shopping. Almost two years on from the first lockdown, this accelerated adoption of technology is no longer a knee-jerk response to the pandemic.

To make 2022 the UK’s recovery year, we must readily embrace this opportunity. 

A recent report by the Department for Digital, Culture, Media and Sport showed that if we can strengthen and support digital ecosystems throughout the UK, we could add another £41.5bn to the economy by 2025 supporting 678,000 new, well-paying jobs. 

However, accelerating tech-led growth will not happen on its own and will require action to ensure that not only can we drive investment into the UK tech sector, but that other sectors of our economy have the ability and resources to complete their own digital transformation journeys. 

Unlocking potential
Increasing investment in UK tech will require a number of steps. 

Two-thirds of investment in UK tech comes from international investors. This is one of the UK’s great strengths – marking us out from our European neighbours who rely more heavily on domestic investment – and opens our sector to a mix of ideas and innovation from around the world.

The UK’s new National Security and Investment regime proposed a shake-up of merger rules that will put a much higher degree of burden on international investors, specifically in the tech sector where investments in technologies such as quantum, satellite and space technologies and artificial intelligence could be discouraged, held up or blocked if the new regime is not applied in a careful way. The best way to get this new regime to work will be to ensure there is a constant dialogue between officials and businesses so that everyone can understand where review is necessary and so that we can get fast decisions. 

Another way we could boost investment is by lifting the pension charge cap under which current policy is preventing pension schemes from investing in asset classes such as venture capital that are big backers of UK tech. There is strong evidence to show that lifting the cap could mean pension funds get better returns for their members and could boost domestic capital investment in UK tech. This is something which is sorely needed as UK pension funds are among the most under underinvested in tech in Europe and compare particularly badly to the US and Australia.   

However, driving investment into the tech sector is only half the story to really boost our growth potential. 

We need to ensure SMEs and traditionally non-digital sectors see tech as vital for their growth journey. This is why techUK supports the expansion of the Government’s Help to Grow: Digital scheme which will provide discounts of up to £5,000 for SMEs to purchase productivity boosting digital services, why we have argued for a tax credit for SMEs to support digital skills training, and why we believe the government should drop its plans for an online sales tax which could reduce business investment in e-commerce and add to inflation for consumers. We invite companies to share their experiences and thoughts with us to further support the UK tech industry.

By taking these steps we believe the government can capitalise on the adaptability and creativity of the British people shown throughout the last two years and to make 2022 the UK’s recovery year by seizing the opportunity to build a world class digital economy.

 

Sam Trendall

Learn More →

61 thoughts on “techUK chief: Government must help seize a golden opportunity to build a world-class digital economy

  1. Jorgedak January 22, 2025 at 11:40 am

    п»їbest mexican online pharmacies: mexican drugstore online – Mexican Easy Pharm

  2. Rodneyicems January 23, 2025 at 8:44 am

    medication from mexico pharmacy https://mexicaneasypharm.shop/# reputable mexican pharmacies online
    best online pharmacies in mexico

  3. Rodneyicems January 23, 2025 at 11:38 am

    medicine in mexico pharmacies https://mexicaneasypharm.com/# medication from mexico pharmacy
    buying from online mexican pharmacy

  4. Rodneyicems January 23, 2025 at 2:27 pm

    pharmacies in mexico that ship to usa https://mexicaneasypharm.com/# Mexican Easy Pharm
    mexican drugstore online

  5. Rodneyicems January 24, 2025 at 5:48 am

    mexican mail order pharmacies https://mexicaneasypharm.com/# Mexican Easy Pharm
    mexican drugstore online

  6. Albertruith January 24, 2025 at 9:18 am

    http://kamapharm.com/# Kama Pharm
    where to buy prednisone 20mg

  7. Albertruith January 24, 2025 at 1:58 pm

    http://dappharm.com/# dapoxetine price
    prednisone online

  8. Albertruith January 24, 2025 at 6:54 pm

    https://predpharm.shop/# where to buy prednisone 20mg no prescription
    prednisone 5084

  9. Albertruith January 25, 2025 at 12:04 am

    http://kamapharm.com/# Kama Pharm
    buy prednisone online paypal

  10. Albertruith January 25, 2025 at 6:16 am

    https://kamapharm.com/# cheap kamagra
    prednisone 5mg over the counter

  11. Albertruith January 25, 2025 at 2:19 pm

    https://semapharm24.com/# semaglutide tablets price
    can you buy prednisone without a prescription

  12. Albertruith January 25, 2025 at 10:29 pm

    https://predpharm.shop/# PredPharm
    prednisone 10

  13. Albertruith January 26, 2025 at 6:17 am

    https://dappharm.shop/# buy dapoxetine online
    prednisone 60 mg

  14. Albertruith January 26, 2025 at 1:38 pm

    http://kamapharm.com/# buy Kamagra
    prednisone cost 10mg

  15. Albertruith January 26, 2025 at 8:59 pm

    http://predpharm.com/# Pred Pharm
    prednisone otc price

  16. Albertruith January 27, 2025 at 4:11 am

    http://dappharm.com/# priligy
    prednisone 50 mg for sale

  17. Albertruith January 27, 2025 at 11:19 am

    https://cytpharm.shop/# CytPharm
    prednisone in mexico

  18. Albertruith January 27, 2025 at 5:31 pm

    http://cytpharm.com/# buy cytotec online
    buy prednisone 10mg online

  19. Albertruith January 27, 2025 at 10:59 pm

    https://cytpharm.shop/# CytPharm
    prednisone nz

  20. Albertruith January 28, 2025 at 5:08 am

    http://predpharm.com/# Pred Pharm
    prednisone 5 mg tablet

  21. MichaelVon January 28, 2025 at 8:14 am

    https://farmaprodotti.com/# comprare farmaci online con ricetta
    comprare farmaci online all’estero

  22. MichaelVon January 28, 2025 at 12:59 pm

    https://farmaprodotti.shop/# farmacia online senza ricetta
    farmaci senza ricetta elenco

  23. MichaelVon January 28, 2025 at 5:52 pm

    https://farmatadalitaly.shop/# Farmacie on line spedizione gratuita
    acquisto farmaci con ricetta

  24. MichaelVon January 28, 2025 at 10:44 pm

    https://farmatadalitaly.shop/# farmacia online
    Farmacie on line spedizione gratuita

  25. MichaelVon January 29, 2025 at 3:20 am

    https://farmaprodotti.shop/# migliori farmacie online 2024
    Farmacia online piГ№ conveniente

  26. Briangorce January 31, 2025 at 3:34 am

    Farmacie on line spedizione gratuita https://farmaprodotti.shop/# farmacia online
    farmacia online senza ricetta

  27. ClintTwefe January 31, 2025 at 3:37 am

    http://farmabrufen.com/# Farma Brufen
    farmacia online senza ricetta

  28. Edwardvep January 31, 2025 at 4:13 am

    Farmacia online miglior prezzo: Farma Prodotti – acquistare farmaci senza ricetta

  29. Daviddof January 31, 2025 at 6:33 am

    https://winchile.pro/# п»їLos casinos en Chile son muy populares.
    Online gaming is also growing in popularity.

  30. Patrickbeisa January 31, 2025 at 8:53 am

    Hay casinos en Santiago y ViГ±a del Mar.: winchile – winchile casino

  31. Daviddof January 31, 2025 at 10:41 am

    http://winchile.pro/# La ruleta es un juego emocionante aquГ­.
    Responsible gaming initiatives are promoted actively.

  32. Patrickbeisa January 31, 2025 at 1:54 pm

    Visitors come from around the world to play.: taya777 – taya777

  33. Josephbycle January 31, 2025 at 2:20 pm

    taya365 taya365 com login The ambiance is designed to excite players.

  34. Daviddof January 31, 2025 at 2:45 pm

    http://taya777.icu/# Gaming regulations are overseen by PAGCOR.
    The Philippines offers a rich gaming culture.

  35. Daviddof January 31, 2025 at 6:36 pm

    http://taya365.art/# The thrill of winning keeps players engaged.
    Poker rooms host exciting tournaments regularly.

  36. Patrickbeisa January 31, 2025 at 6:49 pm

    Many casinos have beautiful ocean views.: taya365 login – taya365.art

  37. Daviddof January 31, 2025 at 10:21 pm

    http://phmacao.life/# Most casinos offer convenient transportation options.
    Players enjoy both fun and excitement in casinos.

  38. Josephbycle January 31, 2025 at 10:40 pm

    taya777 app taya777 app Online gaming is also growing in popularity.

  39. Patrickbeisa January 31, 2025 at 11:32 pm

    Los jugadores disfrutan del pГіker en lГ­nea.: winchile.pro – winchile

  40. Daviddof February 1, 2025 at 1:52 am

    https://winchile.pro/# La mГєsica acompaГ±a la experiencia de juego.
    Many casinos offer luxurious amenities and services.

  41. Patrickbeisa February 1, 2025 at 4:11 am

    Slot machines feature various exciting themes.: phmacao casino – phmacao club

  42. Daviddof February 1, 2025 at 5:19 am

    http://winchile.pro/# Muchos casinos tienen salas de bingo.
    п»їCasinos in the Philippines are highly popular.

  43. Josephbycle February 1, 2025 at 6:46 am

    winchile casino win chile Hay casinos en Santiago y ViГ±a del Mar.

  44. Patrickbeisa February 1, 2025 at 8:52 am

    Los casinos garantizan una experiencia de calidad.: jugabet – jugabet

  45. Daviddof February 1, 2025 at 12:32 pm

    https://taya365.art/# Casino promotions draw in new players frequently.
    Casinos offer delicious dining options on-site.

  46. Patrickbeisa February 1, 2025 at 1:38 pm

    Online gaming is also growing in popularity.: phmacao com login – phmacao com

  47. Josephbycle February 1, 2025 at 2:48 pm

    taya365 com login taya365.art Promotions are advertised through social media channels.

  48. Patrickbeisa February 1, 2025 at 6:25 pm

    Cashless gaming options are becoming popular.: taya365 login – taya365

  49. Josephbycle February 1, 2025 at 10:57 pm

    winchile winchile casino Las apuestas deportivas tambiГ©n son populares.

  50. Patrickbeisa February 1, 2025 at 11:14 pm

    Casinos often host special holiday promotions.: phtaya – phtaya login

  51. Patrickbeisa February 2, 2025 at 4:29 am

    Security measures ensure a safe environment.: phtaya – phtaya.tech

  52. Daviddof February 2, 2025 at 8:09 am

    http://phmacao.life/# п»їCasinos in the Philippines are highly popular.
    The gaming floors are always bustling with excitement.

  53. Josephbycle February 2, 2025 at 8:33 am

    taya777 login taya777.icu Online gaming is also growing in popularity.

  54. Patrickbeisa February 2, 2025 at 9:54 am

    Some casinos feature themed gaming areas.: taya777 – taya777

  55. Patrickbeisa February 2, 2025 at 3:13 pm

    La historia del juego en Chile es rica.: jugabet casino – jugabet

  56. Josephbycle February 2, 2025 at 6:38 pm

    taya777 login taya777 login Promotions are advertised through social media channels.

  57. Patrickbeisa February 2, 2025 at 8:34 pm

    Live dealer games enhance the casino experience.: taya777.icu – taya777 register login

  58. Daviddof February 3, 2025 at 12:57 am

    https://jugabet.xyz/# Los torneos de poker generan gran interГ©s.
    The casino experience is memorable and unique.

  59. Patrickbeisa February 3, 2025 at 1:59 am

    Los croupiers son amables y profesionales.: winchile casino – winchile casino

  60. Josephbycle February 3, 2025 at 4:33 am

    win chile winchile.pro Las mГЎquinas tragamonedas tienen temГЎticas diversas.

  61. Daviddof February 3, 2025 at 5:08 am

    https://taya365.art/# Casinos often host special holiday promotions.
    Responsible gaming initiatives are promoted actively.

Leave a Reply