Are high-tech companies going to lead the way to Economic Recovery? Intellect, the leading trade association which represent its members in the UK technology industry welcomed Chancellor Alistair Darling’s Pre-Budget Report but warned more had to be done and would like to see greater emphasis on innovation and technology. Especially, as this sector is seen as the future creator of high value jobs.
John Higgins, director general of Intellect welcomed the announcement that the government’s Technology Strategy Board would look at how to improve its support for innovation in time for the next budget in 2009 but urged the government to “act decisively”.
Peter Mandelson, the Business Secretary outlined the need for diversified growth in the economy, fed by amongst others, the innovative high-tech sector. Other countries (eg USA) are already planning to act boldly to maintain their high-tech sectors. It is to be hoped that the Government’s £1 billion new Government Small Business Finance Scheme which will lend directly to small business, has an appreciable and positive effect.
Darling has urged retailers to pass on the VAT reduction immediately it comes into effect on Monday 1 December but IT advisory firm the Butler Group, feared this will challenge businesses and in particular their business management systems, financial management and enterprise resource planning (ERP) applications. This could be especially difficult in the run up to Christmas when the changes will have a massive effect on Point of Sale Systems, Stock Control, Back Office Systems and goods already on the shelves.
To see the Intellect Press Release in full please click here.
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