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Bright Future For UK Tech Industry Following £500M Budget Investment

By Octopus Group on 26th March 2015

The government’s 2015 Budget shows a significant commitment to the UK’s tech industry, investing – drumroll please – £100 million toward driverless cars, £40 million to the Internet of Things, and another £400 million for investment in science infrastructure up to 2021.

With over £500 million allocated to funding the next-gen tech industry, the Budget shows the government’s pledge to growing the UK’s B2B tech sector.

Investments like this show confidence in the industry and mean it’s in for a promising future – it’s also brilliant to see the UK’s booming tech scene being recognised by the government.

One of the best parts of this budget is that the country’s top technology clusters, such as Cardiff, the North East, Bristol and Bath, are going to really benefit, as funds have been set aside specifically for companies in those areas.

A number of policies outlined in the Budget give much-needed support to tech startups, entrepreneurs, and the like, especially for those situated in the UK’s tech hubs.

Technological innovation and R&D is a clear area of interest for the government. The Budget Book states that “the government will support the development of innovative businesses across the north through an £11 million investment in tech incubators.”

It’s fantastic to see the government supporting UK tech hubs as they are a key part of our securement as one of the world’s most technologically-advanced countries.

The UK’s B2B technology sector is thriving and will be pivotal to the country’s future economic development. While sustained investment is needed for the industry to continue to innovate, the 2015 Budget is a stride in the right direction and it’s great to see the government supporting the future of UK tech companies.

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