The technology sector is routinely cited by leading members of the government as one of the UK’s economic bright spots. Recently, Chancellor Jeremy Hunt pledged to make the UK the “world’s next Silicon Valley”, while the prime minister vowed the UK must become “the most innovative economy in the world”.
Tech is already a key part of the UK economy. Between 2010 and 2019 the tech sector’s contribution to the UK grew by 25% and that figure keeps on rising, with UK tech now adding over £150bn to the economy every year. In the same period, jobs in the sector have increased by a third, with over 1.7 million people in the country now working in tech.
The sector’s growth is not just good in its own right. More tech companies mean greater availability of digital services, more innovative hardware, and more digitally skilled people that can be spun out into the rest of our economy and society....