5G news – Budget reveals huge 5G investments
5G news: Phillip Hammond’s new Budget lays out plans for whopping investments in 5G technology
Great 5G news as the Autumn Budget is revealed to host plans for winning over the tech world with 20 billion being invested in the next 10 years in innovation. After the uncertainty of the UK leaving the European Union and criticism the government have received for their handling of this, it appears Hammond and the government plan on putting hefty sums of money into championingUK tech businesses.
In a wide-ranging speech laying out proposals for investment and taxes for individuals and businesses, the government laid out its commitment to innovation, and specifically artificial intelligence (AI), immersive technology, driverless cars, life sciences and FinTech. Among the initiatives: a range of investments for new technologies like AI and 5G that add up to over £500 million ($663 million); wider tax breaks and other schemes to bring more investment into the sector; and laying the groundwork for making it easier to build and test new technology in the UK, such as new rules that will let companies test self-driving cars without safety operators.
Investment in the digital and technology-led initiatives will help to turn untapped potential into the “high paid, high productivity jobs of tomorrow,” Chancellor Philip Hammond announced in his Budget speech.
“A new tech business is funded every hour and I want that to be every half hour,” Hammond said in his speech. “So today we invest over £500 million in a range of initiatives from artificial intelligence to 5G and full-fibre broadband.”
“We have some of the world’s best companies, and a commanding position in a raft of tech and digital industries that will form the backbone of the global economy of the future.”
Tech spending highlights
- £75m for artificial intelligence
- regulatory changes for on-road driverless car testing
- £400m for electric car charge points
- £100m to boost clean car purchases
- £160m for 5G mobile networks
- £100m for an additional 8,000 fully qualified computer science teachers supported by a new National Centre for Computing
- a retraining partnership with the TUC and the CBI to boost digital skills in the workforce
- £76m to boost digital and construction skills
Exciting times for 5G technology and innovative technologies in the UK.
Countrywide and 5G
The 5G Innovation Centre (5GIC) at the University of Surrey is now the largest UK academic research centre dedicated to the development of the next generation of mobile and wireless communications. Bringing together leading academic expertise and key industry partners in a shared vision, the 5GIC will help to define and develop the 5G infrastructure that will underpin the way we communicate, work and live our everyday lives in the future. Countrywide Telecoms are a partner of the 5GIC and plan to play a fundamental role in the development of new technologies.
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