Local businesses have been operating since the beginning of the year, according to UK Secretary for Digital, Culture, Media and Sport Chris Philp managed to attract $14.6 billion in venture capital, second only to the United States, so the technology sector should be made one of the engines for the development of the entire national economy. This is facilitated by laws that are attractive to investors.
After the separation from the European Union, the United Kingdom can itself set the rules that will determine the development of companies in the technology sector on its territory. All UK departments will be involved in creating an environment conducive to supporting the development of critical technologies – from quantum computers to advanced semiconductor manufacturing methods, according to the minister. The issue of Arm’s IPO remains unresolved as UK authorities want to return its shares to the trading floor in London, but Japanese investors, represented by SoftBank, expect to raise further funds through an offering in New York. However, Chris Phil explained this to the authorities “Co-operate closely with Poor, like all major UK tech companies.”.
According to him, an independent UK has the opportunity to create a light, non-intrusive regulatory framework that encourages innovation. In the future, this will become a national competitive advantage, the minister concluded. The country’s authorities have yet to address skill inequality and encourage pension funds to invest more actively in developing companies in the technology sector.