Episode 12 - PRO Talks - Labour tech policy w/ Neil Ross, techUK

Summary

In this podcast, Neil Ross from Tech UK discusses the UK's tech policy, focusing on Labor's approach to technology and startup investment. The conversation explores how the Labor Party, under Kier Starmer, has positioned itself as a pro-tech party with a focus on technology for societal purposes. Neil highlights key differences between Labor and the current Conservative government, particularly in terms of tech policy priorities. The discussion also touches on the UK's investment climate, with a focus on boosting economic growth, fostering innovation, and ensuring inclusive tech growth. The episode offers valuable insights into the evolving relationship between business and government in the UK tech sector.

Takeaways

• 😀 Tech UK is the trade association for the UK tech sector, representing over 1,000 tech companies and advocating for policy engagement with government bodies.
• 😀 Labor's tech policy emphasizes 'tech for a purpose', using technology to drive economic growth, public service reform, and green tech investment.
• 😀 The UK government, under the Conservative Party, has set out priority areas in tech such as AI, 5G, semiconductors, and quantum computing to bolster the economy.
• 😀 The Labor Party is positioning itself as the 'party of business', aiming to attract engagement from the tech sector with a focus on long-term stability and planning.
• 😀 Neil Ross explains that while the tech community appreciates Labor's messaging, the sector is still awaiting more detailed policy plans, particularly on technology.
• 😀 A major concern in the tech sector is securing investment, with a focus on unlocking more capital from institutional investors like pension funds.
• 😀 Labor supports policies to incentivize tech investment, such as making tax schemes like EIS and SEIS permanent and lifting the pension charge cap to boost capital inflow.
• 😀 The Labor Party is focused on creating more inclusive investment strategies, encouraging investment in diverse groups, including women and ethnic minorities in tech.
• 😀 Despite a unified leadership in the Labor Party, there may be tensions around tech’s impact on the workforce, especially with the party's strong ties to trade unions.
• 😀 AI and its regulation are expected to be central topics in upcoming political events, with both Conservative and Labor parties addressing the future of AI technology in their policy platforms.

Q & A

What is Tech UK and what role does it play in the UK tech sector?

Tech UK is the trade association for the technology sector in the UK. It represents over 1,000 tech companies, providing services like networking opportunities and market insights. The organization’s focus includes policy advocacy, public affairs, and supporting engagement with government, regulators, and policymakers.

How does the UK government's current tech policy differ from what the Labour Party might propose?

The UK government has focused on cross-cutting technology areas like AI, semiconductors, 5G, and quantum tech, aiming to boost the UK's long-term economic future. In contrast, the Labour Party under Keir Starmer views tech as 'tech for a purpose,' intending to use technology to support broader societal goals such as economic growth, healthcare reform, and public service modernization.

What are the five key missions outlined by the Labour Party in their tech policy?

Labour's five key missions are: achieving the fastest growth in the G7 economies, ensuring the NHS is fit for the future, reforming public services like education and criminal justice, and investing in green technologies. Tech is seen as a key enabler of these missions.

Has Labour made a clear shift toward being a party that supports business, particularly in the tech sector?

Yes, Labour has worked to position itself as a party supportive of business, particularly after recent leadership changes and a focus on industrial strategy. While it has not provided full details yet, the party is engaging with the business community and presenting itself as a stable and long-term alternative to the current government.

What challenges might Labour face when engaging with the tech sector?

Labour’s main challenge is balancing the interests of business with the demands of trade unions, especially regarding the use of technology in the workplace. The party is expected to introduce legislation on employment and technology, which will require careful negotiation between business and union interests.

How does the Labour Party plan to approach investment and scaling up tech startups in the UK?

Labour supports policies that aim to unlock more investment, such as making tax schemes like EIS and SEIS permanent, raising their limits, and improving pension fund investment. The party is focused on ensuring that investment reaches underrepresented groups, including women and minority ethnic founders, and promoting growth outside London and the Southeast.

What is Tech UK's role in the current policy discussions regarding tech and the economy?

Tech UK plays a key role in advocating for policies that support tech investment and the scaling of startups. It works closely with businesses, investors, and policymakers to help shape the tech landscape, ensuring that both the needs of the tech sector and broader economic goals are considered.

What are some of the key tech policies that Labour is expected to focus on, according to the transcript?

Labour is expected to focus on policies that support the tech sector’s contribution to broader social and economic goals. This includes investment in green technologies, modernizing public services, and using tech to enhance economic growth and address societal challenges like healthcare and education.

How are business leaders and investors reacting to Labour’s current approach to tech policy?

Business leaders and investors have been positive about Labour's focus on stability, continuity, and long-term planning. While the details are still being developed, there is recognition that Labour is actively engaging with the tech sector and addressing issues like investment and scaling up startups.

What specific areas will be a major focus at the upcoming Labour Party conference related to tech?

At the Labour Party conference, the key focus will be on Peter Kyle’s speech as the new Shadow Secretary for the Department for Science, Innovation, and Technology. Discussions are expected to revolve around using tech to deliver on Labour's five missions, with an emphasis on fostering a more pro-tech environment and integrating tech with public policy.