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Further investment in technology announced in autumn budget

Elliot Mulley-Goodbarne
October 29, 2018

Further investment in fibre broadband is expected to be announced in the Houses of Parliament

Philip Hammond has announced £1.6 billion of new investments including in fibre broadband during the announcement.

The chancellor of the exchequer made the announcement during his autumn budget earlier today adding that the investments range nuclear fusion to quantum computing.

According to CommScope vice president of service providers international Phil Sorsky investment will also be pointed towards connecting rural areas, schools and libraries to fibre broadband.

He said: ““It’s promising to see such additional investment in fibre infrastructure – especially in relation to connecting rural areas, schools and libraries – as it is critical that all premises have access to speedy and reliable broadband in order to deliver growth and prosperity across the country.”

Tech titans TAX

Hammond also revealed a plan to introduce a UK digital services TAX in April 2020 that will account for £400 million a year.

The tax would only be applied to online businesses that make over £500 million in global profit per year and would be scrapped if a world wide agreement could be struck before the planned date it will be enforced.

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