Techolation

Tech Company Regard COVID-19

The UK’s high-growth tech companies say they need help from the government to get through the coronavirus crisis – and at the moment they are not getting it.

That was the message of a letter to the chancellor from 12 leaders of some of the country’s best-known tech businesses.

They include Babylon, Citymapper, Deliveroo and Improbable.

But just hours after the letter arrived at the Treasury, there is confusion about what it intends to achieve and some criticism – even from within the tech sector – of an appeal for government money from firms that may not actually need it.

The letter spells out the problem:

In summary, they maintain that every kind of business from the family butcher to old established corporate giants is getting help – but the very companies on which the UK’s hi-tech future depends are being left to founder.

The letter asked for a taskforce to sort this issue out. But the people behind it admit they have not quite worked out what an acceptable rescue scheme might look like.

That was the message of a letter to the chancellor from 12 leaders of some of the country’s best-known tech businesses.

They include Babylon, Citymapper, Deliveroo and Improbable.

But just hours after the letter arrived at the Treasury, there is confusion about what it intends to achieve and some criticism – even from within the tech sector – of an appeal for government money from firms that may not actually need it.

The letter spells out the problem:

In summary, they maintain that every kind of business from the family butcher to old established corporate giants is getting help – but the very companies on which the UK’s hi-tech future depends are being left to founder.

The letter asked for a taskforce to sort this issue out. But the people behind it admit they have not quite worked out what an acceptable rescue scheme might look like.

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