Conservatives win election: Tech industry reacts

Boris Johnson's party wins by a landslide, but what does the UK's IT industry make of the result?

The Conservative party has won the UK's snap General Election 2019 by a large margin, surprising many commentators who had expected a hung parliament.

Speaking as the result was confirmed this morning, Prime Minister Boris Johnson described Brexit as the "irrefutable, irresistible, unarguable decision of the British people." He went on to tell the British public: "I will not let you down."

The uncertainty surrounding Brexit since the 2016 referendum has coincided with a difficult time for the British economy, with many firms moving some of their operations away from Britain.

So how has the technology industry reacted to the election result, and the renewed certainty that Britain will leave the EU?

Stan Boland, CEO of FiveAI, a company which makes software for autonomous vehicles, pointed to what he described as the conservative government's support for technology firms.

"To build a successful global tech firm, you need smart, creative people and you need capital. The UK has flourished as Europe's biggest tech hub because it has both, along with world-class universities, top talent, and one of the world's most supportive tax and regulatory environments.

"It's vital that the Conservative government preserves what's good about the UK tech sector, and helps to make it great.

"We encourage our political leaders to support an open and well-funded sector that can foster the iconic global tech companies of the future."

Meanwhile employment tax advisors Qdos stressed the importance of the Government delivering on its promise to support the UK's self-employed, and review IR35 reform.

Seb Maley, Qdos CEO said: "The Government has an opportunity to finally deliver for the self-employed who, after years of neglect, remain sceptical of the Conservative Party's commitment to them.

"The likelihood is, many freelancers and contractors will have voted Conservative based on the party's IR35 promise. The Government now has a responsibility to honour its pledge to hold a genuine review of reform.

"Boris Johnson must act now. A review of IR35 reform has to take place before April's roll-out. If this timeframe is unrealistic, then changes need to be delayed or, better still, halted altogether.

"While a review is a sign of progress, it doesn't mean the changes will be scrapped. Therefore, contractors, recruitment agencies and end-clients must continue their preparations."

Niels Turfboer, Managing Director of FinTech firm Spotcap said:

"The Conservative majority general election outcome raises expectations for political and economic uncertainty to come to an end. The new government now have what they need to pivot from stalemate to action and move forward with giving the UK some much needed momentum."

"First in line is the Brexit question, and there are several options on the table: exiting on the existing deal, exiting on no deal or renegotiation in some way.

In all scenarios continued support of the business community, especially in the finance, technology, science and engineering
sectors should be expected, given their pre-election manifesto. The UK is one of the best places in the world to start, run and grow a fintech business. This status should be protected as it benefits many through economic growth and job creation."

Computing is hearing largely positive noises from the IT community for the government's support of the technology sector, and businesses of all sizes more generally, however it remains to be seen how much more of a dent Brexit will put in the economy, now that it has become more certain.