A raft of measures worth hundreds of millions from compute to quantum and life sciences research to pro-innovation regulation were announced in the Autumn Statement yesterday (Wednesday 22 November).
Tax cuts for working people and British business headlined the Chancellor’s ‘Autumn Statement for Growth’ today to build a stronger and more resilient economy. The plan to unlock growth and productivity includes boosting business investment by £20 billion a year, getting more people into work, and cutting tax for 29 million workers – the biggest tax cut on work since the 1980s.
In science, innovation and technology, a new £500 million investment in artificial intelligence in compute will support the UK’s world leading scientists and AI researchers to continue delivering extraordinary new discoveries benefiting us all – giving AI start-ups and other businesses access to cutting edge compute that boosts productivity and innovation and helps make our country the best place in the world to create an AI start-up.
Developing this computing power also benefits society beyond lifting economic growth, helping us tackle climate change and power the discovery of new drugs.
Additionally, five new Quantum Missions were unveiled to galvanise academics, industry and private investors to commit time and resource towards hitting significant milestones, like embedding quantum sensing into the NHS.