Jeremy Hunt

And what does that mean?

It means that we have

Huge numbers of startups in science parks and business parks across the country, not just in Oxford and Cambridge and London, across the country.

We have the third largest tech ecosystem in the world in the century of AI.

We're a huge services economy, which is the direction all these things are going.

And I think, you know, British innovation is amazing.

Well, I didn't just look at it.

I actually put in place a major program of reforms called the Mansion House Reforms to address it.

And Rachel Reeves has followed that up.

She and I are in complete agreement on this.

And we've just had a new act passed that will address precisely that issue and will mean that pension funds consolidate and start to invest in very promising startup companies, not just in Britain, but in Britain as well as other countries.

But this is my point, really.

I mean, we do have...

We do have a glass half empty problem that our unicorns, our new tech companies tend to get bought or float overseas.

But 10 years ago, we didn't have the unicorns.

And, you know, what we were saying 10 years ago, I remember this.

I was culture secretary responsible for the tech industry in 2010.

And people say, you know,

We invent all the amazing things and then other countries commercialize it.

Well, now we are actually commercializing.