The UK faces significant risks to its industrial assets unless the government enhances support for HardTech and DeepTech sectors. Senior industry figures emphasize the need for increased investments and tax reforms to keep businesses operating within the country. The Bessemer Society Summit gathered prominent leaders who raised concerns about the low percentage of UK pension fund investments in domestic firms. Calls for immediate reform address the challenging tax environment and lack of local financing, which threaten Britain's economic growth and technological competitiveness.
UK pension funds once invested around 50% of their assets in British companies, but today that figure has plummeted to just 4%, signaling a dangerous trend.
The current tax environment is heavily favoring foreign investments, leading British companies to struggle to attract domestic financing necessary for growth.
Industry leaders at the Bessemer Society Summit cautioned that failing to support homegrown HardTech and DeepTech could lead to the loss of vital technologies to foreign buyers.
Business leaders emphasize the urgent need for reform in tax and investment rules to prevent the erosion of Britain's industrial base amidst stagnating markets.
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