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‘A mixed bag’: UK tech reacts to Budget 2023

Spring Statement UK tech
Image credit: HM Treasury via Flickr

The UK’s tech ecosystem has welcomed a raft of measures announced by Jeremy Hunt in the 2023 Spring Budget, but the chancellor is facing criticism from some quarters over “notable omissions” and policies they say do not go far enough.

On Wednesday Hunt outlined measures including a business expensing programme, confirmation of 12 regional investment zones, changes to R&D tax credits along with AI and quantum computing investment projects.

“Despite setbacks in the past year from government, the chancellor has today put the UK back on the pitch when it comes to the global competition for science and technology,” said Julian David, CEO of industry body techUK. “However, the job is not done.”

David said there were “notable omissions and frustrations” from the 2023 Budget, pointing to no update on the long-awaited semiconductor strategy....