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UK Spring Statement: Gov’t pledges incentives for AI and quantum development

The UK’s Chancellor of the Exchequer, Jeremy Hunt, used his Spring Statement Wednesday to announce a range of new measures targeting the technology sector.

Along with additional support to help R&D-intensive small and midsize enterprises (SMEs), a policy that was first introduced last year and was expected to be renewed in this year’s budget, the chancellor also announced a number of new tax relief schemes in addition to money and incentives for AI and quantum computing.

During his speech in the House of Commons, Hunt said that the country has a “newfound strength in the innovation industries that will shape this century,” adding that “over the last 13 years we have become the world’s third trillion-dollar tech economy after the US and China.”

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Source:: Computerworld

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