UK Government must capitalise on US president Donald Trump’s AI and tech investment
The £31bn AI and tech investment from US president, Donald Trump’s state visit is an opportunity the UK Government cannot afford to pass or be lost, say leading audit, tax and business advisory firm Blick Rothenberg.
Simon Gleeson, a partner at the firm, said: “Who will truly benefit from the investment opportunity announced this week at the US President’s visit remains yet to be seen. It is being overshadowed by the cloud of ever-increasing punitive tax policy on wealth creators, and heavy burdening expenditure on the public sector.”
He added: “The chancellor, Rachel Reeves must realise her focus needs to shift from taxing for growth to identifying exemptions, incentives and maybe even credits to lighten the financial burden on UK businesses and ensure this week’s £31bn investment does fulfil ‘the potency of this partnership.’”
Simon said: “Now more than ever UK public-private partnerships, which are long-term collaborations between a government and private sector institutions need to step up, support UK tech and seize this opportunity.”
He added: “This feels like a real inflection point where the danger is policy makers are more comfortable watching from the sidelines instead of finding ways to actively fast-track transformative capital investments to create the next generation of UK unicorns, founders and global leaders in tech. ‘Rapid approvals’ as president Donald Trump said himself.”
Simon said: “Its these big momentous deals by big tech leaders that create waves and momentum that can propel emerging startups and scale-ups elevating UK tech talent as a global leader in AI, life sciences, R&D and more.