Keep hands off IT sector, Tories tell Tony

"It's wrong to pretend that this is a government-inspired or created sector," Heathcoat-Amory told silicon.com. "I think a degree of humility is required by politicians when talking about IT."

The Conservative Party today launched its business manifesto, courting the corporate vote and claiming to be the party of choice for business leaders.

"So many entrepreneurs tell us our environment is less conducive to IT development than the US, or indeed our European competitors," shadow chancellor Michael Portillo warned.

The Conservatives are promising to scrap the controversial IR35, review the government's Regulation of Investigatory Powers Act and reform Capital Gains Tax.

Another manifesto pledge is to increase the limit of approved share option schemes from £30,000 to £100,000. "We recognised the difficulty the IT sector faces in how to attract, retain and reward before there is a cash stream," Portillo said.

The party also promises a review of the telecommunications market, aimed at ensuring wider competition and the promotion of broadband technology.

The Tories backed up their launch with a public show of support from 150 business leaders, including several representatives from the IT sector: John Clare, chief executive of Dixons, James Dobree, CEO of Zygon, Stephen Sheridan, chief executive of 9feet.com, and Cliff Standford, founder of Demon Internet and Redbus.