Budget sets out investments into the 'technologies and skills of the future'

Budget highlights

The chancellor Philip Hammond has set out his ‘vision for Britain’s future’ with a budget speech outlining how government will invest in the ‘technologies and skills of the future’.

Measures announced in Parliament include efforts to improve productivity, further investment in R&D (plus an increase the main R&D Tax credit to 12 per cent), funding for the teaching of maths and computer science, a commitment to roll out digital technologies and skills training, and further investment in transport infrastructure.

“When I took this job I committed to make the battle to raise Britain’s productivity, and thus the nation’s pay, the central mission of the Treasury,” said Hammond. “Last Autumn I launched the National Productivity Investment Fund, to provide an additional £23bn of investment over five years to upgrade Britain’s economic infrastructure for the 21st Century. Today I can announce that I will extend this fund for a further year and expand it to over £31bn.”