Hammond signals government commitment to R&D and innovation

Chancellor wants UK to be a 5G leader and announced creation of a national productivity investment fund

Posted 24 November 2016 at 9:05am by

Latest headlines from our content partner 'Government Computing'Chancellor Philip Hammond’s Autumn Statement, the last before being replaced by an autumn budget, has signalled significant investment in research, development and innovation.

Among his  key pledges, Hammond announced the creation of a new national productivity investment fund worth £23bn. It will focus on innovation and infrastructure, with investment in research and development rising by £2bn a year by 2020.

An investment of £1bn in digital infrastructure was also unveiled to try and provide “world class” facilities and a leading position for the UK around 5G.

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