techUK增长计划

A plan to boost economicgrowth by leveraging thetech sector, the UK’s moderneconomic success story. October 2024 Contents A note to the Rt Hon Rachel Reeves MPP.5 techUK's members' contributions to the UK economyP.6 Executive summaryP.7 techUK areas of policy focusP.8 Policy actions to build the right foundationsP.12 •Drive investment into the UK tech sector by ensuring theP.17right infrastructure and tax system in place P.28 •Ensure that the UK can attract, train and re-train talent througha robust skills and digitisation offer Policy actions to empower the competitivenessP.35of the UK’s everyday economy •Use digital technology to improve the resilience, efficiency and qualityP.40of our public services, delivering better outcomes for UK taxpayers •Take a place based approach to deliver globally competitiveP.46tech clusters across all regions of the UK Policy actions to shoot for the starsP.51 •Capitalise on the UK’s unique advantages and leverage economicP.55growth opportunities including AI, net zero and Open Finance Annex 1: techUK reports supporting the delivery65of the Government’s missions Annex 2. Full list of policy actions68 References74 A note to the Rt Hon Rachel ReevesMP, Chancellor of the Exchequer The UK tech sector is the UK’s modern economic success story, with its Gross Value Add(GVA) contribution to the economy rising by over 25% from 2010 to 2019 and now exceeding£150 billion per year.1techUK’s own members employ 1.1 million people and had a combinedturnover of £329 billion in 2023 with an estimated annual growth rate of 10%.2 The UK’s digital sector is also on track to become the biggest single sector contributing toGVA, due to its size and a faster growth rate than other sectors and the wider UK economy.Artificial intelligence (AI) technologies alone are projected to bring significant benefits for UKbusinesses including increased productivity, efficiency and technological possibility.3 You have indicated that your priority for this Government is economic growth. This centralmission is the right one, and techUK stands behind your goal to harness economic stabilityand grow the economy. The tech sector is calling out for this, and, in us, the Chancellor has awilling partner to work together to deliver. While business optimism is rising the UK economy is suffering from slow growth and laggingproductivity in comparison to other G7 nations. Growth forecasts are mixed4and there is arisk that if our economic growth does not pick up it will result in a loss of competitiveness,cuts to public services and lower living standards. Getting growth going again will not just come from advancing leading sectors in oureconomy, including tech, but also ensuring that new technology is diffused across the widereconomy. Utilising the tide of new digital services and AI technologies will lift all boats. As an example, the OBR has predicted that the widespread use of AI technology couldsupport raising productivity by half a percentage point by 2028/29. In turn, the Governmentcould expect to have an extra £39.9 billion of spending money while also reducing costs by£6.2 billion.5 In this paper, we set out how backing the UK tech sector will ensure growth for the benefit ofevery UK nation and region. techUK's members' contributionsto the UK economy: By taking decisive action, we could: techUK's Growth Plan:Build, Empower andShootfor the Stars Despite tight fiscal conditions, investing in the tech sector can yield substantial returns.The UK’s tech sector has consistently grown faster than the wider economy, with the sectorreaching a combined market valuation of $1.1 trillion in Q1 2024.6 Additionally, virtually every other business sector has a ‘growth plan’ predicated on greaterdigitisation and the use of new and emerging technologies like AI and the cloud. Digitisationfurther enables inclusion and lowers barriers to accessing often critical public servicesfor businesses and individuals, flowing through to economic growth. This is not onlydirectly because of investment in digital services, but due to the impact use has on totalfactor productivity. In 2023 and early 2024, the tech sector has shown resilience amid rising costs andregulatory challenges. techUK and Public First polling of 250 senior tech leaders7indicates cautious optimism regarding growth prospects. Growth is the primaryfocus of our leaders over the next five years. Their top ambition includes growingtheir business (45%), onboarding new technologies (30%) and expanding businesscapabilities, products or services (30%). techUK and our members call on the Government to continue aiming high, keep pace withtechnological development and maintain the Government’s ambitions for investing inresearch and innovation to meet our economic challenges. This is a pivotal moment, and weneed to send out a clear signal that the UK intends to invest in the industries that will definethe next decade of the global economy. Having worked c