Global Tech & Trade Policy Update
Welcome to this week’s update on the fast-moving world of global trade, digital policy, and transatlantic relations. Here’s what’s shaping the global agenda right now.
techUK goes to Ottawa
techUK took a delegation to the capital of Canada, Ottawa, from 21-24 September.
Canada and Canadian firms are increasingly interested in diversifying their international partnerships, which is why we took this timely opportunity to lead a delegation of members to build commercial relationships, understand government priorities and learn more about procurement in Canada.
While in Ottawa we met with Innovation, Science and Economic Development Canada; Global Affairs Canada; Yasir Naqvi MP; the Canadian Association of Defence and Security Industries; the defence and trade teams at the UK High Commission in Canada; TECHNATION; the Canadian Digital Service; and a host of Canadian tech and defence companies.
We wish to thank the techUK members who joined us on the delegation, alongside everybody in Canada who worked to facilitate our delegation.
You can read a full summary on our website, where you can also find techUK’s upcoming delegations.
The EU-UK summit approaches
The EU-UK Summit is now less than a month away, scheduled for 20 November.
Recent discussion has focused on the UK’s proposed alignment with the EU on Chinese electric vehicles (EV) tariffs as the condition for entry to the Industrial Accelerator Act. Trade Minister Lord Sarwar, for example, highlighted the importance of preventing ‘unintended consequences’ for industry when he spoke in favour of UK inclusion at the German-British Business Summit last week.
The EU-UK Summit is taking place within the context of Prime Minister Andy Burnham’s desire to reopen public debate on the UK’s relationship with the EU. The Chartered Institute for Exports & International Trade reports that the Treasury is being asked to model the economic consequences of different UK relationships with the EU, and the Institute for Public Policy Research (IPPR) have published a report arguing the UK government should set rejoin as a ‘medium-term’ objective.
techUK members keen to stay up to date with the UK’s EU policy should join our EU Policy Group here.
The 2026 UK Budget
The UK government’s 2026 Budget will take place on 28 October. This will be the first Budget for Prime Minister Andy Burnham and Chancellor John Healey, who is reportedly preparing to deliver a 'steady as she goes' fiscal event. This is positive news for stability, and techUK has welcomed the decision, reported earlier this week, to rule out any increase to capital gains tax. However, reduced fiscal headroom, the government's existing policy commitments, and the Middle East, mean some revenue-raising measures are to be expected. The include reports that the government intends to extend the BBC licence fee to other streaming services, dubbed the 'YouTube tax'.
The rumour mill does not include many trade-related measures, with the government’s focus likely on the UK-EU Summit. Nevertheless, we will be watching for updates on the day, and techUK members who want to receive our summary of the Budget first should sign up to our Public Policy Group.
UK-Gulf Cooperation Council deal and GITEX delegation
The government is working towards signature of the Free Trade Agreement agreed with the GCC by the end of the year according to Politico. You can find a summary of what the FTA means for tech on the techUK website.
techUK is taking a delegation to GITEX in the UAE from 7-11 December, and is also working with BIST and Tradefair to host the UK Pavilion. You can find out more about both of these opportunities, as well as how you can register, on our event page.
Delegation from Mauritius
On Monday 19 October, techUK hosted a delegation from Mauritius, including the Minister of Financial Services and Economic Planning, Dr Jyoti Jeetun. We discussed Mauritius’s move towards encouraging their fintech sector, including their recently-launched National Fintech Strategy and their FinTech Hub.
Members who wish to find out more about the meeting should get in touch with the techUK trade team.
UK Secretary of State in India
Secretary of State Jonathan Reynolds led a large UK trade delegation to India last week, alongside the Environment and Scotland Secretaries. The trade delegation also included several northern mayors and companies, which gave the visit a focus on regional investment.
The delegation is being reported as securing £1 billion of additional trade, with several tech companies included in the numbers. The inclusion of northern mayors also suggests that UK trade policy is following the Prime Minister’s focus on growth in every postcode.
techUK members can get involved with our UK-India work through joining our UK-India Tech Forum.
Government response to Standard Essential Patents (SEPs) consultation
The UK government has published its response to the SEPs consultation held last year, announcing a series of measures which aim to make SEP licensing clearer, fairer and easier to navigate. You can find the government’s full response here.
