Home » Three-quarters of tech leaders positive about Labour, survey finds

Three-quarters of tech leaders positive about Labour, survey finds

Three-quarters of tech leaders believe a Labour government would have a positive impact on UK innovation, according to a new survey.

A general election is firmly on the cards this year and both Labour and the Conservative Party have been fighting to win the approval of the business community.

New research from the tech funding consultancy group Ayming UK suggests Labour’s courting of business has been paying off.

Ayming’s survey of 100 tech industry leaders found the vast majority feel Labour would improve UK innovation, with only 9% believing the opposition would have a negative impact if elected.

Additionally, Ayming surveyed a further 500 businesses, with the total show of faith for Labour being 79%.

Labour has been leading for some time in the general population voting intention polls. Recent policy announcements directed at business and tech appear to have shored up its position with entrepreneurs.

Last month, Labour published its Financing Growth report, containing a host of policies aimed at advancing the economy.

Policies included a revamp of the British Business Bank to direct more investment into regional SMEs, regulation of financial technologies like BNPL, greater support for open banking implementation and the promise of AI legislation.

The report was largely welcomed by the tech industry.

Allan Nixon, head of science and technology at the centre-right think tank Onward, told the UKTN Podcast that Labour and the Conservatives are “fairly aligned” on tech policy at a macro level.

The new show of support for Labour by tech businesses follows a survey of 500 UK firms last October by the Entrepreneurs Network that found 43% of founders felt Labour would support business, compared with 35% feeling the same about the Conservatives.

Labour has also been approaching business leaders seeking their public endorsement, Bloomberg reported earlier this month.