“Pro-Growth” Labour Scrapping Investment into UK Tech and AI
The so-called “government of growth” has abandoned yet another investment initiative—the £1.3 billion fund aimed at supporting UK tech and AI projects. The Edinburgh exascale supercomputer’s future has been thrown up in the air – one of the world’s fastest computers that could revolutionise breakthroughs in AI, medicine, and…clean low-carbon energy. A reminder: investment and reform in the UK’s tech industry was a key pledge in Labour’s manifesto, which promised to:
“to grasp the opportunities of new technologies, with an AI sector plan, a new national data library to support cutting-edge research, 10-year budgets for key world innovation institutions, and planning reform to build the datacentres and infrastructure we need.”
Now, Labour has scrapped what they label “unfunded” plans to nurture the very industry they previously touted as essential for economic growth. This isn’t the first pro-growth initiative they’ve shelved since taking office. Angela Rayner has reduced the housebuilding target in London by 20%, while Rachel Reeves has cancelled numerous infrastructure projects, including the building of 40 new hospitals and 45 railway lines. Just weeks ago, Reeves positioned Labour as the party of “investment and reform.” As usual, Labour promised the land of milk and honey, only to quickly reverse course and set the stage for higher taxes instead…
