Local MP Alan Mak has accused the Labour Government of squandering Britain's role as a world tech leader.
He spoke out as he visited London Tech Week to meet and support some of the entrepreneurs and investors contributing to our economy.
London Tech Week is the premier event in the world for innovation, collaboration and growth in the tech industry.
Mr Mak said the previous Conservative Government turned Britain into the world's third-biggest AI eco-system after the US and China.
He said this produced more unicorns - private start-up companies that have reached a valuation of at least $1bn - than Germany and France combined.
Mr Mak said: "Labour are squandering Britain's role as a world tech leader.
"Being strong in tech is vital for our community and our country, but Labour's taxes and red tape are a threat to Britain's future."
He added: "Labour imposed the Jobs Tax on tech workers and start-ups, cut the tax relief on VCTs (investment companies that back UK start-up companies with growth potential), reducing the investment going into our tech sector, and their AI action plan has not delivered very much action or AI.
"The only way to reverse this decline is for Britain to become a ScaleUp Nation and I'm going to carry on my campaign to help turn Britain into the best place in the world to not just start a business, but to grow and scale up a business too."
