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Labour right to be thinking about challenges of automation, but answer lies in skills and education, not deterring investment in productivity growth.

Commenting on Jeremy Corbyn’s speech to the Labour Party Conference, where he highlighted Labour’s approach to automation, techUK Deputy CEO, Antony Walker said:

“Jeremy Corbyn is right that there are huge benefits to society that can come through automation. From AI that can help improve diagnosis rates in the NHS to machine learning that can reduce time wasted on form filling in businesses. But if the UK wants to lead the way in harnessing this power we must be careful not to undermine the investment in digital technologies that will drive productivity and economic growth.

“All political parties should be thinking about how we handle the challenges to come from accelerated automation. But it is too soon to be making assumptions about its impact on either jobs or the tax base. Care needs to be taken not to put a tax on productivity growth that is so fundamental to raising living standards.

“The challenges posed by automation cannot be solved by a short-term fix. Automation can and will lead to the creation of new jobs and industries. What is important is that UK workers have the skills and education needed to take advantage of those opportunities. That is why Labour is right to highlight the importance of improving investment in education and lifelong learning. This approach must take priority over-relying on taxation to slow the pace of change.”

The full text of Jeremy Corbyn’s speech can be found here.