xDesign comment on budget’s impact on the tech sector

18/11/2022
Malcolm Seagrave (CGO, XDesign)

IN A reaction to yesterday’s Autumn Budget statement, Edinburgh-headquartered product and software engineering company xDesign have said what it may mean for the country’s tech sector.

Malcolm Seagrave, Chief Growth Officer at xDesign, commented:

“The Chancellor’s Autumn Statement, with its concerted focus on ‘stability, growth and public services’, had some welcome news for the tech sector and reaffirms its view that tech is an engine of UK growth. 

“The commitment to digital infrastructure – particularly through investment via Project Gigabit – will ensure the UK is geared towards accelerating its digital economy in the near future. Its ambition to reach at least 85% gigabit-capable broadband coverage by 2025 is ambitious but a positive move for the UK economy as consumers and businesses are likely to move towards digital products more ardently in the coming years.

“However, the promise of investment in infrastructure won’t be enough on its own for the UK to meet its digital potential, particularly given current economic headwinds. At xDesign we know that people and skills are the real key to unlocking growth in the sector and the Government must be doing everything it can to support training and upskilling for the sector. 

“As the Chancellor himself pointed out, despite around 50% of adults being educated at tertiary level, the UK underperforms on basic and technical skills compared to similarly developed countries. Although the Government has promised to continue its support for educational schemes like T-Levels, and Technical Qualifications to build a future pipeline of digital talent, it also needs to do more to incentivise and stimulate the same support from the private sector – particularly those that have a heavy reliance on tech and potential opportunities for young people. xDesign is leading the way in this area by offering a number of self-funded initiatives like a graduate programme, paid internships and community outreach via tech events and workshops.”   

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