๐จNEW: A UK bank chief executive, reacting to John Healey's decision to raise the bank's profit surcharge said:
"Taxing the engines of growth to reduce VAT on gherkins is end-of-Rome level of stupidity"
[@FT]
This Cabinet is a Cabinet of people who have never had jobs.
They do not understand the impact of their actions on small businesses and entrepreneurs.
We need a leader who has lived it, felt the pain of every energy price hike and has a plan to improve.
Not a sticker on Google Maps.
We need to do better, this is not acceptable leadership.
A few observations from a week in London:
1/ The startup energy here is completely different than 10y ago. The level of risk taking, ambition, and talent has changed dramatically
2/ There remains a huge fintech opportunity here. Revolut, GoCardless, and many others were built on the incredible finance talent in London
3/ Their vision in building public transit infrastructure is peerless in the west
4/ London in good weather is probably the best city in the world
Statement on behalf of UEFA and its 55 National AssociationStatement on behalf of UEFA and its 55 National AssociationStatement on behalf of UEFA and its 55 National AssociationStatement on behalf of UEFA and its 55 National Associations
every data center story says it uses "as much power as 100,000 homes" like that's a scandal. an aluminum smelter pulls five times that and it's why airplanes are cheap. measuring industry in homes is how you train a country to believe building things is a crime
Happy birthday, America! I love this remarkable country, which was built on the idea that anyone can change the world. For 250 years, our country has been a testament to the power of possibility. ย Letโs keep building extraordinary things together.
This week the most advanced AI model on the planet got switched off by a foreign government. British researchers were studying it. British companies were testing it. British hospitals were piloting it. Not any more.
This isn't an AI story. It's the story of every industry we used to lead.
Britain has some of the best AI talent in the world. DeepMind was built here. Our AI Safety Institute writes the rules other countries follow. We have the researchers, the universities, the standards.
What we don't have is the power stations to run the data centres, the planning system to build them, or the industrial base to make the chips. So the work happens here and the value lands somewhere else. We invent. Others build. Others decide. Then we read about it on Saturday morning.
Same story as the kit our soldiers don't have. Same story as the factories we used to.
I spent nine months in government making this argument inside the room. I'll make it louder from outside.