If the UK Govt plan is seriously to try to build a trillion dollar tech company - then waving through/ championing the sale of Arm Holdings in 2016 - not to mention the technology transfer that then occurred to China - will come to be seen with some regret...
Because it’s Sunday, I’m going to do a blog about the business case for a Government which apparently sees its role as to build a UK trillion dollar tech company, buying back Arm Holdings ..thoughts welcome!
Some details from last year about what happened with Arm China after the sale of the UK company to Japanese investors:

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More from @faisalislam

25 Sep
Busy day - another story - supermarkets have conducted an exercise calculating the UK Global Tariff on internal food/ drink supply chain data for trade with EU (obv zero now), which would happen in Jan with no EU trade deal - total cost £3.1bn, prices up: bbc.com/news/business-…
British Retail Consortium acknowledge that not all of this £112 per household per year would be passed on to consumers in shopping baskets, but point out it doesn’t include costs of non-tariff barriers, disruption...
85% of foods imported from EU would face a tariff of 5% or more, say supermarkets, average 20%, which includes 48% on mince, 57% on cheddar cheese, and 16% on cucumbers...if these costs were fully passed on, (and some will be absorbed by companies), eg £1 on £3 cost of beef mince
Read 7 tweets
24 Sep
Chancellor: for at least 6 months, the virus and restrictions will be fact of life ... a new normal, and our plan must evolve to new normal..

Ending furlough hardest choice - right choice at the time, but now fundamentally wrong to hold people in jobs that only exist in furlough
NEW: Jobs Support Scheme - support in work wages.
Keep in job on shorter hours.
- viable jobs - working at least a third of hours.
- target at firms at needed - all small biz, and large biz that have turnover falling

Runs for 6 months till November.
Can also Jobs retention bonus
Self employed support scheme extended
Read 6 tweets
24 Sep
Interviewed CDL Gove yesterday after that letter to hauliers and update to scenario planning - interesting on the combination of potential post transition period disruption and Covid-19 pandemic...
First up - Cabinet Office genuinely concerned about levels of trader preparedness for 1/1/21, but also ongoing perception that things won’t really change, or status quo will be maintained. Chose to publish the Reasonable Worst Case Scenarios as a “wake up call” for traders
Responding to hauliers who said this was an exercise in creating a fall guy ahead of likely disruption, Gove said “we are not pointing the finger. Hauliers doing an amazing job. We are taking responsibility, and calling business to action”...
Read 8 tweets
23 Sep
Re-upping this from my interview with the Chancellor in Stoke last Monday, where I mention the Kurzarbeit German short-working, wage subsidy scheme... bbc.co.uk/news/business-…
Also talk in May too - & indeed existing furlough scheme moved in this direction by allowing part time work. Question all about how generous you make it.

Some see as partly responsible for German export miracle, indeed as giant back door subsidy for it.

can see political economy argument for scheme such as this:

- furlough scheme a high point of the Govt’s Covid response
-PM proud of it having “put arms round public”
- attractive to Red wall idea of state doing more, but operating that thru market
- precedent set in pandemic
Read 4 tweets
23 Sep
Just been on @bbcR4today talking to Justin about this Gove letter to industry about updated “reasonable worst case scenario” for post Brexit transition period border - first time clear acknowledgement of potential disruption on 1/1/21

“Maximum queues of 7000 port bound trucks”
contained in a letter sent yesterday to industry, encouraging it to get prepared for the new border irrespective of whether there is a deal or not...

delay scenario of 2 days - is almost the same as was in the Operation Yellowhammer No Deal documents (1.5 to 2.5 days) last year
Underlying projection is 70% of freight trucks traveling to EU from UK, and up to half on short straits crossing (Dover/ Eurotunnel) will not have correct documentation, coupled with assumption France will instigate full goods controls, stopping all freight without correct docs:
Read 13 tweets
22 Sep
Bank of England Governor Bailey this morning telling the BCC “There is a huge amount to uncertainty... We see a major threat in terms of the return of Covid
Therefore our job to support the economy support the people of this country and support the businesses”.
PM says we are at a “perilous turning point”.. says rising cases are not just a function of testing, and that only 8% of people have antibodies, English hospital admissions have doubled...
PM:“Not a return to full lockdown, no general instruction to stay at home... asking office workers who can work from home to do so...

From Thursday all pubs, bars restaurants, table service only, close at 10pm... sorry that this affects some businesses just getting back on feet”
Read 10 tweets

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