Chancellor Jeremy Hunt gave a speech at Bloomberg on Friday outlining plans to boost the UK government
In Brief:
This was addressed to notable executives from major FinTech and tech companies including Revolut CEO Nik Storonsky and leaders from Monzo, Amazon, Meta, Microsoft, Apple and Google
Hunt noted that the “London/Oxford/Cambridge triangle” has the most tech businesses in the world outside San Francisco and New York
But he still urged the UK to have a more American approach, saying the attitude to risk in the UK “can still be more cautious compared to our US friends”
What does this mean?
In his speech to tech executives, Hunt said “I want to ask you to help turn the UK into the world’s next Silicon Valley.” Hunt explained that what he meant by this call to transform the UK is that he wants anyone thinking of starting or investing in an “innovation or technology-centred business” to want to do so in the UK.
