Budget 2017 – Towards a Technological Revolution

James Brokenshire has welcomed the Chancellor’s ambitions to ensure that Britain plays a leading role in important technological developments that will change the way we live and work and to see that we embrace the change and opportunity it offers rather than hiding away from the future.

In order to place the UK at the cutting edge of science and innovation and as part of the Government’s Industrial Strategy, £2.3billion will be invested in research and innovation, taking spending in this area to its highest level in 30 years. This will be supported by increasing the R&D tax credit to 12%, unleashing the creativity of the inventors and the innovators of Britain.

Emerging technologies will also be supported with £500million being invested in a range of initiatives from Artificial Intelligence to 5G mobile coverage and full fibre broadband. In addition, this investment will help support the development of driverless and electric vehicles that will revolutionise our transport system.

Commenting, James said:

“The world is on the brink of a technological revolution and this Government is making sure  that Britain will play a pioneering role in it, just as it did in the previous Industrial Revolution. This investment will help UK businesses and universities to develop new technologies that will shape the way we live in the 21st century.”

“But closer to home, this announcement will also have important implications. The push towards ultrafast broadband and 5G mobile coverage will benefit us all. This is an issue that I have been discussing with Openreach in recent weeks to ensure that, in the shorter term, up to 98% of the constituency has access to superfast broadband by the end of next year.”