We present herein the results of a linear gyrokinetic analysis of electromagnetic microinstabilites in the conceptual high−β, reactor-scale, tight-aspect-ratio tokamak STEP (Spherical Tokamak for Energy Production, https://step.ukaea.uk). We examine a range of flux surfaces between the deep core and the pedestal top for the two candidate flat-top operating points of the prototype device (EC and EBW operating points). Local linear gyrokinetic analysis is performed to determine the type of microinstabilities that arise under these reactor-relevant conditions. We find that the equilibria are dominated by a hybrid version of the Kinetic Ballooning Mode (KBM) instability at ion binormal and radial scales, with collisional Microtearing Modes (MTMs) sub-dominantly unstable at very similar binormal scales but different radial scales. We study the sensitivity of these instabilities to physics parameters, and discuss potential mechanisms for mitigating them. The results of this investigation are compared to a small set of similar conceptual reactor designs in the literature. A detailed benchmark of the linear results is performed using three gyrokinetic codes; alongside extensive resolution testing and sensitivity to numerical parameters providing confidence in the results of our calculations, and paving the way for detailed nonlinear studies in a companion article.