Jonathan Reynolds MP appointed to lead the newly-expanded Department for Business, Innovation, Science and Trade

Tuesday 21 July 2026

Karim Fatehi OBE, CEO of the London Chamber of Commerce and Industry (LCCI), commented:

"We'd like to welcome Jonathan Reynolds back to an enlarged business department, and we look forward to working constructively with him on behalf of our 12,000-strong business network. This role will be vital for delivering the Prime Minister's mission to achieve growth in every postcode.

Elevating the AI minister to a cabinet level position is a positive step that recognises this technology's importance. Abolishing the Department for Science, Innovation and Technology is, however, a concerning development for London firms and the capital's growing strength in tech and AI. Spreading these responsibilities across multiple departments risks deprioritising the sector as a whole and stalling its momentum at a crucial time. 

London accounts for almost 60% of the UK's tech sector by value, with over 90% of AI investment coming into the capital. The King's Cross area and the Elizabeth Line tech corridor are significant assets to the national economy.

With science and technology becoming increasingly central to the UK's economy, the new government must demonstrate quickly that this machinery change can support the sector effectively. London is already a world leader in this area, with cutting edge firms drawn to our research facilities, innovation hubs and deep talent pool. London's position as the tech and AI capital of Europe cannot be taken for granted, however, requiring government to enable the right conditions for investment and job creation."

ENDS

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