I agree with this call to action. Sadly, I think there are more fundamental issues in the UK economy. For all intents and purposes, Venture Capital is dead in the UK. While companies do get funded in the UK and are technically "UK domiciled" - in action most of their Engineering and Product teams are located in Eastern Europe or India, or are startups from those markets (and China) who domiciled in the UK to raise fr…
I don't understand why it's so bad in a country that's supposedly amazing at financial services.
It's fairly easy to deploy capital in the UK in mainland Europe, the US, India, China, ASEAN, and Middle East, which means there isn't much of an incentive to deploy it within the UK in industries that the UK cannot compete directly in.
For example, Dyson has almost entirely shifted operations to ASEAN (Phillipines and Malaysia primarily).
And AugustaWestland/Leonardo, Rolls Royce, AstraZeneca, GSK, BT Group, JLR, and BAE have largely shifted operations to the US and India.
The UK could make it harder to offshore, but then that also destroys the UK's entire financial and services industry, because most of the capital in the UK exists because it's a connector for global markets and would leave if that is ended.
They're damned if they do, damned if they don't.