Responding to news that Cambridge technology giant ARM is set to be acquired by Japan’s Softbank, Cambridge MP Daniel Zeichner says that we need strong guarantees that the assurances given will be honoured: “Within weeks of the European referendum we are seeing the sale of the jewel in the UK tech crown, Cambridge’s greatest modern success story.

Analysts will debate the impact on ARM, but there can be no doubt that Britain is losing control of one of our most innovative and successful companies.

The promises and assurances are bold, but the power to decide moves elsewhere, and the Government needs to consider how these promises can be guaranteed.

There has been a chill running through Cambridge since June 23, and this news only reinforces the sense that the country has taken the wrong turn.”