Simon Arlington spoke to City AM about Chancellor Rishi Sunak’s spending plans in the UK budget announcement, which included a raft of new measures aimed at boosting both startups and established tech firms. One of these measures was the launch of a new £375 million fund (“Future Fund Breakthrough”) that will see the government invest in fast-growing UK tech startups.
According to Simon, the fund may not prevent British tech firms from selling out to the U.S. or Asia.
“With cash-rich foreign investors looking to capitalize on a devalued pound, government investment is unlikely to deter founders from selling their businesses to entities in the U.S. or Asia if the deal is right,” he said.
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