Search Comment Central
Tej Kohli
Tej Kohli

Tej Kohli, Investor and Philanthropist, Slams Starmer's 'Tax-Take' Britain

Eleanor Thomas
January 9, 2025

Billionaire tech investor and philanthropist Tej Kohli has delivered a stark warning to the UK government, claiming that Sir Keir Starmer’s policies are driving Britain into the "backseat" of the looming global tech revolution.

In City A.M., Tej Kohli delivered a hard-hitting critique of the government's approach to business, tax policy, and innovation, arguing that the UK is on the verge of missing out on the greatest technological transformation in history - a revolution set to reshape industries from AI to robotics, genomics, and beyond.

"Tax-Take Britain is Killing Innovation”

Kohli, who has invested over £100m in emerging technologies and is renowned for his work in artificial intelligence, e-sports, and biotech, has called out the government’s reliance on tax hikes and regulatory burdens that are crushing the entrepreneurial spirit. He slammed recent tax policies, including the Chancellor's Budget and the scrapping of non-domicile status, which he says are “deter[ring] wealth creators, investors, and innovators from moving to the UK.”

As part of this, he issued a stark warning that Britain could lose its competitive edge in the global tech revolution unless decisive action is taken to support emerging industries. Highlighting the challenges of rising taxes and inconsistent policies, Kohli argued that these measures are stifling innovation and creating uncertainty for investors.

He cautioned that Britain’s ambition of achieving G7-leading growth will remain unattainable unless the government prioritises fostering a climate conducive to technological advancement and entrepreneurship. Without urgent intervention, Kohli believes the nation risks being relegated to the sidelines in the race for technological leadership.

A Technological Revolution Awaits - Will Britain Lead or Follow?

The UK stands at a pivotal moment, Kohli argued. As artificial intelligence rapidly advances, the AI sector is expected to be worth $15 trillion, and new technologies like spatial intelligence, used for autonomous vehicles and robots performing human tasks, are about to explode.

Britain must create an environment that welcomes investment and doesn’t drive it away,” Kohli said Quote

But Kohli is concerned that Britain is not positioning itself to be a leader in these fields. He highlighted how Britain’s rise during the Industrial Revolution was built on a culture of risk-taking, free enterprise, and embracing technology, values that also inspired him to move to the country in 2006. Since then, he has invested over £100 million in cutting-edge industries such as artificial intelligence, robotics, and biotech in addition to his philanthropy work focused around ending poverty-driven blindness in poor and remote communities around the world.

However, Kohli expressed concern that modern Britain is losing its edge, with many workers displaying a sense of complacency and treating work as a necessity rather than an opportunity to thrive. He also noted a growing scepticism toward wealth creation, which he sees as undermining the entrepreneurial values that once made Britain a global leader.

His commentary raises critical questions about Britain’s future role in the ongoing technological revolution and whether the nation can reignite the ambition that once drove its economic achievements.

Rebuilding a Culture of Innovation

In response to this diminishing enterprise, he outlined several key recommendations for reversing Britain’s decline and re-establishing the UK as a global hub for tech innovation:

  • Streamlining immigration for talent and investors: Kohli called for simplifying visa requirements for tech professionals and investors to attract top talent and foreign capital.
  • Targeted tax breaks and incentives: He urged the government to introduce enhanced R&D tax credits and capital gains tax relief to encourage investment in emerging technologies.
  • Collaboration between universities and businesses: Kohli stressed the importance of turning academic research into practical innovations, advocating for incentives to foster closer collaboration between universities and the tech industry.
  • Expanding digital skills development: The UK needs to create more pathways for students to transition into the tech industry, including government-backed apprenticeships and training programs.
  • Building infrastructure for innovation: Kohli called for greater investment in tech hubs, incubators, and training facilities, akin to Paris’s Station F, to cultivate grassroots talent and foster a vibrant tech ecosystem.

Kohli said that Britain must develop a bold and forward-looking strategy to reinvigorate its economic prospects, emphasising the need to attract global investment and foster innovation. "Taxing our way to prosperity has never worked," he remarked, urging the government to adopt policies that signal to the world that the UK is open for business and innovation.

Kohli's comments come amidst growing concerns that high taxes and unclear policies are deterring investment and stifling the entrepreneurial spirit needed to drive future growth, concerns only heightened by Labour's recent Budget

The Need for Immediate Action

Kohli’s warning comes at a time when the UK is falling behind in terms of investment, ranking last in G7 countries for investment over the past 30 years. Without addressing these issues, Kohli believes the UK will continue to stagnate and fail to capitalize on the vast opportunities in the rapidly advancing tech landscape.

He has urged Britain to seize the opportunity to lead the technological revolution shaping the future, warning that the nation risks falling behind global competitors. "Britain still has a chance to play a leading role in the tech revolution that will shape the next two centuries, but only if we act now," Kohli said.

As his piece concluded, he cautioned that without immediate action to foster innovation and investment, the UK could be eclipsed by nations like the US, China, and other emerging economies that are already outpacing it in the race for technological dominance.

Ella

Eleanor Thomas is a writer for Comment Central.

What to read next
Shutterstock 2442670635
The growing awareness of environmental sustainability and energy efficiency has prompted...
Ella
Eleanor Thomas
June 17, 2024
Shutterstock 1241494456
Informed consumption is a hallmark of an efficient market. From Zamnesia...
Ella
Eleanor Thomas
May 13, 2024
Credit Card Shopping Trolley
As we look towards the future, the dynamics of the housing...
Ella
Eleanor Thomas
January 1, 2023