Britain's technology sector is preparing for potential upheaval as concerns mount that Labour's forthcoming Budget might prompt investors to withdraw their capital from the nation.

Brent Hoberman, co-founder of Lastminute.com and a key advocate for UK start-ups via Founders Forum and Firstminute Capital, cautioned that venture capital (VC) firms are seriously contemplating relocating to Europe should taxation increase further, as reported by City AM .

"I spoke to someone yesterday from one of the top three VC funds who said 'we're all going if they push us any more", Hoberman told the Telegraph.

He characterised suggestions to align capital gains with income tax and implement a two per cent wealth levy as both "alienating" and "crazy", observing that Italy and Switzerland are already

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