The British Budgets present investment proposals in areas such as artificial intelligence and 5G and tax rebates for individuals and companies.
The government of the United Kingdom is trying to maintain the momentum of the technological sector in the country, regardless of the form it takes to leave the European Union. Today the Chancellor of the Treasury, Philip Hammond , presented the Budgets for 2018, which underscore his commitment to ensure that the technology sector continues to prosper.
Thus, the government of the United Kingdom will allocate 500 million pounds (560 million euros) to investments in new technologies . The budget presents investment proposals and tax rebates for individuals and companies in order to attract more investment to the sector.
Among the priority areas for the British government are artificial intelligence (AI), immersive technology, 5G mobile networks, driverless cars, cybersecurity, life sciences and fintech, according to TechCrunch .
The state investment to finance the growth of innovative companies will include a new fund from the British Business Bank , which will co-invest with the private sector.
Other initiatives to facilitate the development and testing of new technologies in the United Kingdom are the new rules that will allow companies to test cars without a driver and without safety operators.
“Every hour a new technology business is financed and I want it to be every half hour. So we will invest more than 500 million pounds in a wide range of initiatives, from artificial intelligence to 5G and full fiber broadband, “Hammond explained in his speech.
The technological sensitivity of the Budget is not an isolated event. A week ago, Philipp Hammond and the Prime Minister, Theresa May, announced an expenditure of 80 million pounds sterling on technology programs, together with an expansion of their work visa plan for highly trained foreigners.