Arabic version: وزيرة المالية ريفز تهدف إلى الاحتفاظ بمواهب واستثمارات التكنولوجيا في المملكة المتحدة

Chancellor Rachel Reeves has expressed her commitment to preventing top British technology firms and scientists from relocating abroad for better financial opportunities. According to BBC News, she emphasized the need to end this trend during a recent interview, highlighting the government’s investment of £2.5 billion in quantum computing and artificial intelligence (AI).

In a lecture to business leaders in London later on Tuesday, Reeves outlined her plans to boost the UK’s sluggish economic growth through increased investment and closer ties with the EU. The Conservative Party criticized her approach, suggesting it indicated a desire to reverse Brexit and shift blame for economic challenges.

Many UK tech companies have been moving overseas, often to the United States, driven by factors like inadequate local investment and more favorable tax incentives abroad. Ashley Montanaro, co-founder and chief executive of British tech firm Phasecraft, noted the importance of ensuring the UK remains an attractive location for quantum computing development.

Reeves aims for the UK to achieve the fastest adoption of AI in the G7 and has pledged that quantum computing will create 100,000 jobs. However, her plans may face challenges due to rising inflation linked to the ongoing US-Israel war with Iran, which has led to surging oil prices. She indicated that decisions regarding the controversial Rosebank and Jackdaw North Sea oil developments would be made soon, as the UK looks to stabilize energy supplies amidst global uncertainties.

In her lecture, Reeves also suggested that aligning more closely with EU regulations could benefit the UK economy, particularly in sectors like food and farming. Shadow Chancellor Sir Mel Stride criticized her remarks, claiming they reveal a retreat towards EU alignment as a response to economic mismanagement.