As entrepreneurs call for tax cuts to support startups, have politicians been complacent?
David Lammy, Labour MP for Tottenham, says Yes.
There is a real lack of ambition in support for the tech sector from government.
Some efforts are being made to improve London’s hi-tech infrastructure, for example, but it’s concerning that the capital still comes twenty-sixth in the UK table of high-speed broadband connectivity, and falls behind the likes of Southampton and Kingston-upon-Hull when it comes to 3G signal.
The government needs to up its game in rolling out new digital infrastructure.
We should also not be satisfied with a “Tech City” that is really just one roundabout near Farringdon.
In terms of lending, funding streams from the British Business Bank to Project Merlin show the coalition is letting down startups in access to finance.
And as called for in the Startup Manifesto, we need proper investment in genuine apprenticeships that give young people a taste of an entrepreneurial environment.
The government could be doing more. There is no room for complacency.