A major new initiative designed to place the UK at the centre of the global £9 billion “sharing economy” is to be launched by the government.
The aim is to boost London’s growing technology sector and to boost self-made entrepreneurs.
The sharing economy is typified by businesses such as accommodation site Airbnb or car club ZipCar, but refers to individuals sharing either their property, time or skills with others in return for payment.
The move is expected to form a central part of the Conservatives’ business and economic push around its party conference in Birmingham this week, The Telegraph reported.
But it comes just days after Abta chairman Noel Josephides took a swipe at the emerging peer to-peer sector.
Josephides said the industry is facing a second online revolution that will not leave any business model unchanged.
“This is the rise of what we call the sharing economy – another name for the growth of the black economy, but presented in a very clever and sympathetic way,” he said.
“The classified adverts and cards in the Post Office window have always been there and we tolerated it because the scale was small.
“What companies such as Airbnb and HouseTrip have cleverly done is to use the internet to provide a platform to allow the black economy to grow.”
Josephides added: “If we assume that the majority of those letting their properties don’t declare their income, can you imagine the enormous loss in the tax take for struggling governments?
“That’s why it’s important we come together to talk about the future so that we can shape it rather than be shaped by it,” he told The Travel Convention.