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London's standing as Europe's leading destination for tech start-ups is at risk if the British government does not clarify how it plans to keep the best technical talent, entrepreneurs and investors have warned.
In an open letter to Prime Minister Theresa May, nine leading UK-based technology entrepreneurs and investors, including Skype co-founder Niklas Zennstrom, pressed the government to act to ensure a continued flow of skilled migrants after Britain leaves the European Union. It also called on the government to address EU market access and other issues.
From the letter, posted at TechCrunch:
UK startups require a commitment from the government that the investment drive of the last few years will continue in order for UK startups to maintain their lead in many areas. It is important for all the UK's business sectors that the tech sector continues to flourish, since all business now runs on and is affected by technology.
(Score: 2) by janrinok on Wednesday December 07 2016, @02:25PM
Indeed, this will only deepen the divide. The people are seeing the downside of globalism.
The government was instrumental in the destruction of the coal industry in the North of England, but then continued to import coal from China and elsewhere. It did next to nothing to help the steel industry or save jobs. It did little to protect their jobs in England or Wales. The ship building industry has disappeared because globalism will benefit us all! The rail enhancements that have already benefited the capital are now slowing or have been put on hold in Bristol, the South West, or the North
But now that the jobs in London and the south east might be affected by Brexit we have to consider reversing everything to protect those jobs? If they were surprised by the outcome of the Brexit referendum, stick around and watch what happens if they try to implement a half-baked withdrawal from European bureaucracy.
(Score: 1, Insightful) by Anonymous Coward on Wednesday December 07 2016, @02:46PM
The government was instrumental in the destruction of the coal industry in the North of England, but then continued to import coal from China and elsewhere. It did next to nothing to help the steel industry or save jobs. It did little to protect their jobs in England or Wales. The ship building industry has disappeared because globalism will benefit us all! The rail enhancements that have already benefited the capital are now slowing or have been put on hold in Bristol, the South West, or the North
If I am not mistaking, most of that happened quite a while ago. How did the locals survive loss of all those industries? What they lived on since? And most important: would they be able to compete with imports on a free market if those industries were restored? Sometimes who you deem foe is merely a messenger bringing in the bad news.
(Score: 5, Insightful) by janrinok on Wednesday December 07 2016, @04:16PM
While it is not the politics that I subscribe to, I can certainly understand the anger and resentment that it has caused.
We are slowly seeing, I believe, a backlash in Europe against both EU policies and globalism in general. Similarly in the US. Many of those who were made unemployed by the loss of the coal industry have remained unemployed or are now earning significantly less than they did as minors. But the government of the day told them it would lead to much better things, that globalism was in their interests, that they would be retrained with skills to compete with the rest of the world. It did not happen.
Ship building has a similar story with the areas around what were once thriving industries being left run down and without a soul. But do not worry they said, it would get better.
The steel industry is a current area of concern, and the same arguments are being trotted out. If the UK government does not take action to save the industry, who will, who should? Those jobs are, it appears to those most closely involved, expendable.
However, during all of this time, London and it's immediate environs have boomed. Banking and the service industries have flourished. But has this brought better conditions to those who were made redundant during the loss of the coal, ship building or steel industries? Most certainly not. Some in London have become very wealthy - the UK's 1% if you will. And all the time the EU promises have remained largely unfulfilled. But there is extra legislation and bureaucracy, immigration has soared making jobs even harder to find for many. From their perspective, distorted and clouded as it might be, they want to take back control of their own country. They want a government that looks after everybody's interests and not just those who live in and around London. They want a decent wage, they are not asking to be made millionaires. Investment by the UK in areas outside London is still well below that seen in the capital itself. The EU is is providing assistance - but why is the UK government not doing more and why do they need EU assistance?
Their viewpoint may be skewed, it might even be wrong, but what they see at the moment is very unfair. All they want is a level playing field. Brexit, just like the Wall Street action, is a way of saying 'enough is enough'. Lets sort this out, starting with their own country rather than spending money on a Europe that is determined to take them down a path they haven't asked to go down.
Are we not seeing a similar argument being made in the US at the moment?
And if governments don't want to listen, they will learn the hard way who is actually in control, and it will not be them.
(Score: 2) by janrinok on Wednesday December 07 2016, @05:17PM
Damn! I meant miners - not minors.
(Score: 2) by Zz9zZ on Wednesday December 07 2016, @08:15PM
It still worked out!
~Tilting at windmills~
(Score: 2) by bob_super on Wednesday December 07 2016, @07:10PM
The primary difference between the US and the UK in this case, would be that her majesty's subjects expect their government to help revitalize the areas affected, while the Happy Citizens of the US want to throw away all regulations and unions to allow companies to bring jobs back.
(Score: 0) by Anonymous Coward on Wednesday December 07 2016, @08:28PM
Who needs pesky regulation? Unions? Pffft. Gobble up the anti-worker rhetoric of the businesses! They need higher profit margins every quarter or else they are failing. Thankfully they're not above blackmailing the people....
(Score: 2) by isostatic on Thursday December 08 2016, @05:20PM
They need higher profit margins every quarter or else they are failing
Indeed. http://www.bbc.co.uk/news/business-38247155 [bbc.co.uk]
The retailer, which has been criticised over working conditions, said reported pre-tax profits fell 25% to £140.2m.
So despite making £140m last year that's not good enough.
Mr Hellawell, who has been under fire during his tenure as chairman, used the results statement to launch a blistering attack on the way in which the company had been treated.... "The individuals at the heart of our organisation are blameless. They are increasingly upset and angry at the barrage of detrimental comments about the company, which in their view is unjustified."
After HMRC looked into whether workers at its Derbyshire warehouse were paid below the minimum wage, a damning report by the the Business, Innovation and Skills committee said employees of the company were "not treated as humans".
Yes, nothing to blame at the top. Other companies of a similar size don't do this.
Still, profits are down, i'm assuming they won't spend anything on frivolous status symbols.
However, the firm added that it would be buying a corporate jet for £40m.
(Score: 2) by TheRaven on Thursday December 08 2016, @10:29AM
It did next to nothing to help the steel industry or save jobs
Let's not mince words here. The EU proposed introducing import tariffs on Chinese steel. David Cameron vetoed it. They didn't 'do next to nothing' to prevent the collapse, they actively encouraged it (I'm sure it's a coincidence that most of the steel-related jobs in the UK are in Labour safe seats).
sudo mod me up