Bernard Brown, Vice Chair at KPMG UK, says more needs to be done to attract inward investment for the UK digital and tech sector.
Commenting on today’s Spring Statement, Bernard Brown, Vice Chair at KPMG UK, highlighted that more needs to be done to attract inward investment for the UK digital and tech sector to prosper. He said:
“With the UK preparing to leave the European Union, we need to do more to attract inward investment from tech businesses of all sizes, by introducing new tax incentives and increasing funding.
“We also need to continue our investment in STEM subjects to make sure the next generation is equipped with the right skills. By doing this, we’ll be boosting our capabilities, improving productivity, and in turn creating hundreds of thousands of high-skilled jobs up and down the country.
“The UK is already facing the prospect of losing 53 percent of our European IT workforce post-Brexit, according to a KPMG study. If the Government doesn’t do more to incentivise the UK’s digital economy then we will face a shortfall in our tech skilled workforce.
“If the UK wants to lead the race on cyber security, AI, automation, driverless vehicles and other new technologies we need to offer more to entrepreneurs and innovators so they can succeed.”
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About KPMG in the UK
KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 14,500 partners and staff. The UK firm recorded a revenue of £2.2 billion in the year ended 30 September 2017. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 152 countries and has 189,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.