OPINION
Critics say the PM has picked fights with business (Image: Getty)
Science, technology and AI are the UK’s future engines of growth. If Keir Starmer actually cared as much about growth as he claimed during the election campaign, he would have grasped this. In Labour’s emergency budget in three weeks’ time, we will find out whether he finally has. Given their last budget sent borrowing costs and taxes skyrocketing, I’m not holding my breath.
Making sure Britain grasps the opportunities presented by science and technology will require leadership, sound judgement and strategic policy making. Our Prime Minister is weak in all three areas.
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We are a great country, but under Labour we have lost our way. Britain is failing to compete in a world that is changing fast. The UK is no longer working for its citizens as it used to. The opportunities presented by science and technology can help turn this around.
The rate of technological change has never been as fast as it is now, nor will it ever be as slow. In this rapidly changing landscape, seizing the opportunities of science and technology become increasingly important.
If done right, public-private investment in research and development supports the creation of world-beating innovations, positioning Britain as the main beneficiary of scientific advancement. Only by doing so can we make sure we are not left behind in this scientific arms race.
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Leaving the EU has boosted our growing technology sector. Where European economies are held back by the EU’s sluggish AI regulation, the Conservatives engineered a forward-thinking approach to regulation that encourages digital innovation and competition.
It explains why Britain is home to more billion-pound technology companies than any other European country, and more than France and Germany combined. If Starmer really cared about growth as much as he professed, he would continue our good work supporting Britain’s startups.
Labour’s AI Act has the potential to devastate the UK’s AI sector by regulating AI into oblivion. Labour ministers have suggested an EU model of AI regulation, where byzantine regulations have stunted growth and incentivised globally mobile businesses away from the EU.
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This approach, while terrible for our technology sector and economy, is unsurprising given Keir Starmer’s love affair with the EU. He campaigned energetically for a second referendum with free movement of people. His favourite piece of classical music is the European anthem, Ode to Joy. And there are worrying signs that he looks set to backtrack on some of our hard-fought Brexit freedoms like taking back control of our borders.
If he means what he says about growth, and putting the country before party, he must set aside his natural instincts and take advantage of Brexit’s benefits for our tech sector. Anything less would be a monumental failure of leadership.
Our tech sector is so successful because we Conservatives created a pro-business environment. We lowered taxes and boosted research and development tax credits. We worked with businesses, not against them.
But I am yet to see any evidence that Starmer is able, or even willing, to work with businesses – even when it’s in the country’s best interests.
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Whether it’s harmful jobs tax, the family business death tax, or the upcoming employment rights bill – Labour’s extreme pro-union charter – Keir Starmer has crossed the street to pick a fight with Britain’s businesses.
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I hope for the country’s sake, and our technology sector’s sake, that he changes course. He must use his upcoming emergency budget, which they are having to present because they sent borrowing costs to record highs, to show he is on the side of Britain’s tech sector.
But Labour’s track record on supporting the science and technology sector does not fill me with optimism. Labour spent years under-investing in research and development in the UK, which then grew by 50 per cent under the Conservatives.
We need someone in Downing Street who understands that this sector is central to driving growth, innovation and productivity in the UK. Keir Starmer doesn’t get it because he’s an analogue politician in a digital age. Under new leadership the Conservatives will always back British business and we will unleash the immense potential of Britain’s science, tech and AI sectors.