Burdensome regulation risks making Britain a ‘technological backwater’
23 August 2023
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IEA Director of Public Policy and Communications Matthew Lesh has written for the Telegraph arguing that the UK’s regulatory regime is placing Britain into a ‘technological backwater.’
Matthew wrote:
“The Government has talked about loosening stock exchange rules to attract fast-growing start-ups. This would be a welcome move, but as with most other promises to seize the opportunities of Brexit, the Government has talked a good game but delivered little.
“If Britain is to attract business, it needs to be reducing the burden of tax and regulation. Instead, the Government has increased corporation tax from 19pc to 25pc. Instead, the Financial Conduct Authority has introduced new rules for listed companies, including requirements relating to diversity, inclusion and climate disclosure.
“As it stands, Britain has the strongest tech scene in Europe. The sector is valued at more than $1 trillion, the third largest in the world after the US and China.
“We have great start-ups, fantastic talent and a long history of innovation. And all this will count for nothing if the Government continues its anti-tech agenda.”
You can read the full article here.
Matthew wrote:
“The Government has talked about loosening stock exchange rules to attract fast-growing start-ups. This would be a welcome move, but as with most other promises to seize the opportunities of Brexit, the Government has talked a good game but delivered little.
“If Britain is to attract business, it needs to be reducing the burden of tax and regulation. Instead, the Government has increased corporation tax from 19pc to 25pc. Instead, the Financial Conduct Authority has introduced new rules for listed companies, including requirements relating to diversity, inclusion and climate disclosure.
“As it stands, Britain has the strongest tech scene in Europe. The sector is valued at more than $1 trillion, the third largest in the world after the US and China.
“We have great start-ups, fantastic talent and a long history of innovation. And all this will count for nothing if the Government continues its anti-tech agenda.”
You can read the full article here.
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