Tech firms warn of UK losing its business allure

Lobby group TechUK said in a report that the United Kingdom was a “broken” economy for growing startups and described its regulation as “expensive and awkward”. — Bloomberg

LONDON: The United Kingdom risks falling behind in key technologies such as artificial intelligence (AI) and semiconductors if the government doesn’t urgently overhaul its policies and regulations, a group of almost 1,000 technology companies warns.

TechUK, a lobby group whose membership includes Alphabet Inc, Amazon.com Inc and Apple Inc, said in a report published that the United Kingdom was a “broken” economy for growing startups and described its regulation as “expensive and awkward”.