General Election Uncertainty

June 9, 2017

Businesses don’t like uncertainty, particularly when it straddles both the political and economic spheres. An EU referendum, no political party with an overall majority and the clock already ticking on the UK’s departure from the EU.

The General Election result creates yet more uncertainty for businesses. Tech South West polled its members earlier this year and Brexit was a worry even then. Today, we have multiple concerns. Delays on crucial Brexit negotiations, a Government with a weakened mandate, talk of coalitions and potentially another General Election. 

Such economic and political uncertainty does not help our region’s thousands of technology firms. We need reassurance around creating and supporting the environment we need to help our region’s fastest growing sector to thrive, backing innovation, investment and talent for the long-term.

On the plus side, we are the region’s fastest-growing sector, and we are a sector with a strong emerging eco-system, filled with tech hubs, businesses, universities, science parks, innovators, investors and educators across the South West. 

Whatever happens in the coming days - and weeks - at Westminster, whatever happens as deals are discussed behind closed doors, we know that our dynamic business leaders in the region will remain committed to achieving growth, to continue pushing forward.

It would be a pity if so many of our politicians become locked in domestic matters, turning inwards, when we should be doing everything to look out and beyond our 'borders', playing an active role in the global economy that we know, here in the South West, we can be global leaders in so many different technology specialisms.

Philip Letts