Electronic Specifier Design Magazine, July 2024
With Labour achieving a landslide result in the recent UK election, what will this mean for the future of the UK’s tech sector?
Technology is not at the forefront of many of the Labour policies in its manifesto, but nonetheless, the party did actually include many mentions of the phrases technology and innovation, suggesting that the party will potentially be making moves to improve public services, increase the nations productivity, and rebuild the economy by utilising technology such as AI and quantum.
The UK is in a strong position when it comes to emerging technologies such as quantum or AI. If Labour want to make the most they can from the tech sector, then hitting the ground running with these emerging technologies is key.
The semiconductor industry is central to advancements in AI and quantum computing, with vast economic and geopolitical significance. Valued at $600 billion in 2024, the global semiconductor industry is projected to surpass $1 trillion by 2030. The UK hosts several successful chip companies and globally relevant suppliers. However, it currently provides the lowest level of support for the semiconductor industry among the G7, despite the considerable economic benefits these industries bring.
As the new Labour government looks to set policies that shape the direction of key emerging technology sectors, including AI, quantum computing, autonomous mobility, communications, and the semiconductor industry that underpins them, the future of the UK’s prosperity hangs in the balance.
Paige West, Managing Editor
