Despite the fact that the UK is still counting its ballots it now looks like a Conservatives government is a certainty.
Following the party’s better-than-expected showing in the election the tech industry has been quick to welcome a further 5-year term for a government with a strong track record when it comes to supporting entrepreneurs.
Antony Walker, deputy CEO of techUK, said that the election result provided the government with an opportunity to build on that track record.
He said: “The future of the UK depends on a strong, tech enabled economy and tech companies will be encouraged by signs of political certainty provided by today’s outcome.
“The Conservative party has demonstrated a solid track record on tech and the digital economy across the UK.
“The new government must look to build on those achievements to make the UK a world leader in the next wave of the digital revolution.”
And David Godber, group chief executive officer of Elmwood, Global Brand Consultancy said the result was good news for the City.
He said: “For sure the City will be happy with the current strategy of balancing the books, supporting employers and keeping public spending in check maintaining its current momentum.”
But he cautioned that significant challenges face the UK following the rise to prominence of national parties such as the SNP and DUP.
He said: “I think there’s an interesting shift in the demography of the nation that needs to be considered seriously.
“Previously we’ve become accustomed to talking about the North-South divide. But this morning we’ve got a specific shift towards nationalism, obvious by the significant Scottish vote going to the SNP.
“I’m actually imagining that Wales and Northern Ireland may well follow during the next political term so the most significant challenge to this government will be to maintaining the strength of the Union through a specific package of support and care for the economic needs of Northern Ireland, Scotland and Wales.
However, despite these challenges Godber is still confident about the future of the digital economy.
“As for the commercial creative sector and the digital economy, well I believe there’s a huge amount going on around the country and I remain optimistic,” he said.
“Specific pockets of excellence in technology exist and examples can be found around the country in a number of hubs including the silicon roundabout, in the “Connected digital catapult” or in the University of Dundee.
“Funding frameworks are also in place whether it’s direct via Innovate UK or via the UK’s R&D Tax Credit regime.
“Overall I’m optimistic. But I would be arguing for regional consideration and support: for additional FE and HE funding for courses in creativity and technology; for the continuity of support for centres of excellence and creative and technology clusters; and for more simplicity in funding and R&D tax credit application processes.”