Britain should overcome its lack of financial affect whether it is to turn out to be a world expertise superpower, an business physique has warned.

The sector was price $1 trillion final yr and employs three million folks, however its affect worldwide lags behind friends together with the United States, China and the European Union, in response to techUK.

The business group, which has 970 member corporations, mentioned the scope for impactful new commerce agreements was slender. The UK’s latest accession into the Comprehensive and Progressive Trans-Pacific Partnership, a buying and selling alliance together with the likes of Australia, Canada, Chile, Japan and Mexico, was anticipated so as to add solely 0.08 per cent to gross home product, it mentioned.

The report places additional strain on the federal government, which has pledged to make Britain a