Local MP Alan Mak has challenged Labour to reverse its damaging National Insurance tax rise, especially on small businesses and startups.
In his role as Shadow Secretary of State for Science, Innovation and Technology Mr Mak spoke in Parliament and told his Government counterpart Peter Kyle that a hike in employers' NI contributions announced in the Budget will damage tech businesses.
In his first House of Commons exchange with Mr Kyle, Mr Mak said: "Under the last Conservative Government, Britain was home to more billion dollar tech start-ups than France and Germany combined.
"But last month an industry survey found that nearly 90% of tech founders would consider leaving Britain if Labour raised taxes on tech businesses.
"Labour has U-turned on policy in Scotland (Scottish Labour leader Anas Sarwar has said it will bring back Winter Fuel Payments for pensioners if it wins the next Scottish Parliament elections), so today will the Secretary of State commit to reversing Labour’s jobs tax, which damages tech businesses across the entire country?"
He added: "Figures from his own department show that workers will be losing out by nearly £800 each per year as a result of Labour’s Budget. Will he stand up to the Chancellor and oppose any further tax rises on Britain’s hard-working tech sector?"
