Rachel Reeves, the UK Chancellor, has pledged to stop British tech firms and scientists from relocating overseas in search of better opportunities.
Speaking at the BBC, Reeves said the government wants to end the trend of companies “drifting abroad,” particularly to the United States, by boosting investment in innovation.
The UK government plans to invest £2.5 billion in quantum computing and artificial intelligence to strengthen the country’s tech sector and drive economic growth.
Many UK startups have moved abroad due to limited funding, weaker stock market performance, and more attractive tax incentives elsewhere. However, industry leaders say the UK is still a strong base for innovation if support improves.
Reeves also highlighted plans to accelerate AI adoption and create up to 100,000 jobs, while strengthening ties with the EU to support business growth.
