Much of the reporting on the Chancellor Rachel Reev's spring declaration focused on the cuts of the social budget, which was carried out for the fulfillment of their own tax rules. Your gambling is that by increasing the efficiency of the public sector, investing in technology and concentration on growth, long -term advantages will outweigh the pain reliever cuts.
The British technology sector will be a key factor for every growth. Great Britain is worth 1 trillion pound and organizes the third largest technology sector after the USA and China. It is not surprising that the tech executives quickly commented on the chancellor's statement.
AI, innovation and Great Britain growth
It was a welcome greeting to her comments and feelings. Stefano Vaccino's founder and CEO at Yapily stated: “The government says everything right to support the Innovation Economy in the UK and to make Britain the best place in the world to expand a business.” But he added that it had to be aware of the importance of technology. “Neither relaxation nor growth can be successful without courageous commitments. The British fintechs are the focus,” he said. “We create jobs, attract capital, grow quickly and radically innovative financial services with products that help companies and households to get more of their money.”
Some managers focused on the efficiency of the public sector and pointed to the parallel needed to promote innovations. Muj Choudhury, co -founder and CEO of Rocketphone. He added that Great Britain as the leading provider of New Tech has to appear: “Great Britain must first address data access, shortage of competence and infrastructure gaps.”
In any case, with the co -founder Feargus Macdaeid, the government repeated a clear basis. “The future growth of the British economy depends on its ability to innovate and use the latest technologies. However, this requires stability in political framework conditions and a clear strategic vision, especially in relation to border technologies such as AI,” he said. “The support of the government is important to catalyze private investments, promote courageous innovations and attract global talents, which is of crucial importance for ensuring the United Kingdom in this rapidly developing landscape.”
Others suggested that AI was an essential factor for the economic recovery of Great Britain. Dr. [technology] of our time. It is one of the few levers that the government can put on to acquire cheaper and faster public services. Therefore, brave politics must now follow the encouraging sound bites when the United Kingdom really gets into the veins.
More defense in an insecure world
In a statement characterized by cuts in public expenditure, defense was one of the few winners, which reflected the increasing uncertainty in terms of world security.
“What Great Britain needed from the spring declaration were concrete steps to increase his defense skills,” said Andriy Dovbenko, founder of UK-Ukraine TechExchange. Although we welcomed the increase in expenses to 2.5% by 2027, he warned: “The number is still inadequate compared to the resources of other global powers such as Russia – but the focus must now achieve less in the immediate future.”
However, the announcement of a ring activity of 10% of the equipment budget for new technologies was welcomed. Tobias Stone, founder of the Resilience Media and Resilience conference, commented: “The British startup and risk capital sector has the skills and commitment to take a lead in the development of technology worldwide that strengthens our resistance and supports our defense.”
The workforce presses
However, there were also warnings of the workforce. “It is clear that it will exert more pressure on British companies from April. With the increase in national insurance and the national wages The livelihood is the cost of hiring and maintaining employees,” said the CEO and co -founder of Testgorilla, Wouter Durville. “With Pay Rewards who stagnate, the retention becomes more difficult than ever,” he added. “Intelligent attitude strategies and strong retention strategies are not just a” nice “or a box ticket exercise. They are the difference between strategic growth and survival in the current climate.”
Ed Bradley, CEO of Virtualstock, pointed out that many state guidelines, such as the increase in national insurance, not only endanger employment in the public sector. He asked the government to think about more effectiveness policies. “I ask the government to prioritize measures that promote business growth and investments in the UK,” he said. “Higher capital gains tax and reduced F&E tax credits make the United Kingdom less attractive for investments, especially for technology. We need guidelines that support companies instead of preventing them. Otherwise we risk losing companies and talents for cheaper markets abroad.”
If the Chancellor is looking for an effective reaction from the tech sector to reconcile the criticism with which it is confronted with welfare cuts, more may be needed, whereby many hope that warm words will be supported by concrete actions. “The Chancellor has to recognize that handicrafts on the edges will not arrest the economic break -in of Great Britain,” said Warner of the faculty. “The way to revive our economy is paved by the technology.”