ALEX BRUM­MER MER

The Jewish Chronicle - - Business -

ish soft­ware group to van­ish into over­seas own­er­ship of late. Last year Au­ton­omy, which came out of Cam­bridge Univer­sity, was sold off to an­other Sil­i­con Val­ley fading star Hewlett Packard for £7 bil­lion amid prom­ises that the brains of the firm would re­main in the UK.

When it comes to tech­nol­ogy the pull of the San Fran­cisco Bay area is so pow­er­ful that it is hard to imag­ine that, over time, the best and the bright­est com­pa­nies like NDS and Au­ton­omy will not migrate to Cal­i­for­nia where taxes are lower and there is a huge clus­ter of such com­pa­nies.

In an age of free and open cap­i­tal mar­kets and an in­creas­ingly glob­alised world, the wel­come which Bri­tain gave to over­seas preda­tors, par­tic­u­larly dur­ing the fast growth decade of 1997-2007, was seen as a good thing for the econ­omy.

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