International Trade Secretary says UK tech ambitious and ready to grow | Smart Highways Magazine: Industry News

International Trade Secretary says UK tech ambitious and ready to grow

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The UK’s International Trade Secretary, Dr Liam Fox, has told a gathering of British Technical innovators in Las Vegas that UK technology is “ambitious, confident and ready to grow”.

Speaking at the reception at the Consumer Electronics Show attended by SMART Highways (pictured), Dr Fox explained that “there is a world outside Europe, and there will be a time beyond Brexit and Britain needs to prepare for it, with tech being an indispensable part for Britain and its partners”.

He said Britain’s exports are at an all-time high, with exports growing 10.9%, way ahead of the global average, and a huge rise of foreign direct investment into the UK, second only to China and ahead of the US – “huge testament to the ability of the UK to innovate.”

He added that “in tech, London alone attracted in the last full year, more venture capital on tech than the whole of France, Germany and Sweden combined… not that yo’d get a flavour of that reading much of the UK media.”

Dr Fox stressed his department’s role in growing inward investment and also to help British companies win business overseas and praised the innovators attending the Bosch-sponsored reception and giving an upbeat assessment of the UK’s prospects after Brexit.

“90% of global growth over the next five years will be outside continental Europe,” he said.  “Frankly whether Britain was leaving or staying in the European Union, we have to raise our act.  We’re living in an increasingly globally competitive environment and whether it’s DIT or other Government departments, we need to lend our support to British business to support British business in a way some of our competitors have, in the past, done better.

“What our tech sector does is not only key to our success… it’s about the welfare and the wellbeing of our citizens and the quality of our life, and that’s what the tech sector brings – a great beacon of hope for the future and Britain is at the forefront of the revolution.”

 
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