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Autumn Budget: Hammond confirms £500m tech investment

MM-AutumnBudgetBannerChancellor Philip Hammond has confirmed plans to invest over £500m in a range of initiatives supporting technology.

In his first Autumn Budget, Hammond announced the Government will review the availability of capital to help tech start-ups reach scale.

“The UK is on the brink of a technology revolution,” Hammond said. “We can either embrace the future and build on Britain’s success story or reject change…We choose the future. We choose to run towards change not away form it. The prize will be enormous. Britain will genuinely be at the forefront of a technological revolution.”

In the Spring Budget Hammond revealed plans to invest £500m to boost science and innovation with support for electric vehicles, robotics and artificial intelligence.

Today, Hammond pledged to “step up” support for driver-less cars, adding that electric vehicles need to be the focus first. He announced £400m for charging infrastructure and £140m for electric car projects.

Click here for all our latest coverage on the Autumn Budget.

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