Euan Blair is among the tech leaders urging the likely next Prime Minister to support industry and scrap tax raid plans
Tech business leaders in the UK are urging Andy Burnham to scrap rumoured proposals to target the sector with tax raids once he likely gets the keys to Number 10 Downing Street.
A group of Britain's most prominent technology entrepreneurs, with Euan Blair among them, has sent a letter to Andy Burnham cautioning the incoming prime minister against tax rises that could damage the country's startup ecosystem.
The coalition of founders has warned that the next administration faces only a brief opportunity to capitalise on recent momentum in the sector.
Their message urges policymakers to avoid measures that might deter business creation and discourage investment at a critical moment for the UK economy.
The intervention was coordinated by technology advocacy organisation Coadec alongside Founders Forum. Mr Blair, who established the tech apprenticeship platform Multiverse, is joined by several leaders of billion-dollar British companies in signing the letter.
These include Alex Kendall from autonomous vehicle firm Wayve, Synthesia co-founder Victor Riparbelli, and Vishal Marria, who founded data analytics business Quantexa.
Founders have expressed alarm at potential fiscal changes being discussed by Mr Burnham's advisers.
Reports suggest these could include a new wealth tax, an exit levy on capital gains for those relocating abroad, and bringing capital gains tax rates into line with income tax.
Such reforms, the entrepreneurs contend, would undermine Britain's competitiveness against rivals including America and China.
The signatories have set out five key demands for the future Burnham government, with preserving tax incentives for company founders topping their list.
They wrote: "We will only succeed if we incentivise and support our best and brightest to build world-beating firms wherever in the country they are both in our culture, but also in the tax and investment landscape."
Their remaining priorities call for opening up pension fund investment to fast-growing businesses, removing regulatory barriers to speed up artificial intelligence deployment, directing government contracts towards domestic tech firms, and bolstering Whitehall's own AI capabilities.
The technology leaders argue that Britain's tech industry represents a rare success story within an economy they describe as having suffered prolonged deterioration over two decades.
Acknowledging improvements made in recent years, the group nonetheless stressed that time is short and the incoming government's choices will prove decisive for the nation's standing as a global technology hub.
They added: "We are at a precipice. Each and every one of us believes in Britain and what we can achieve All of us stand ready to help. We're ready to build with whoever wants to build with us."
