Investments in UK tech sector will create hundreds of jobs, says Government
Hundreds of jobs are set to be created across the UK as part of a raft of investments in the technology sector, the Government has announced.
It comes as Science and Technology Secretary Peter Kyle told an audience at London Tech Week that the UK must be at 'the cutting edge' of rapidly growing technologies, such as AI.
The technology sector is a key area of the Government's efforts to accelerate growth in the UK economy, in a bid to support efforts to increase spending.
Liquidity is planning over the next five years" data-source="">
On Tuesday, a number of 'significant investments' in the sector were announced in areas including AI and fintech, which will see some companies setting up in the UK for the first time.
Liquidity, a US-based AI fintech business, revealed it will launch its European headquarters in London as part of a plan to invest an additional £1.5 billion over the next five years.
Meanwhile, Capgemini said it will expand UK operations with a new London headquarters.
Netcompany, a Danish IT consultancy, will also invest £2 million to expand its Leeds office and is launching a new site in Edinburgh, which will ultimately create 150 jobs.
Other investments include InnovX AI, a major European start-up hub, investing £14.7 million in a new London technology site, creating 30 jobs.
Mr Kyle said: 'We have all seen over the last few years, just how rapidly and profoundly technologies like AI are transforming the economy, and our society.
'Britain can – and must – be at the cutting edge of this change.
'The era of hesitancy is over: we can be the masters of our fate, and through the measures I am announcing today, we will harness the vast potential of our trillion-pound tech sector to help remake our country for the better.'
The Government said on Tuesday that it was opening its Science and Technology Venture Capital Fellowship for a second cohort and round of applications, to increase the capacity of the UK financial sector to invest in start-up businesses in the sector.
Business and Trade Secretary Jonathan Reynolds said: 'Securing valuable high-tech investment is an integral mission of this government and seeing global investors put billions in the UK economy shows the plan for change is working, with more and more companies choosing Britain.
'With tech being identified as a key growth sector in our upcoming modern industrial strategy, we're not only helping attract and secure investment, but delivering long-term, stable growth that supports skilled jobs and raises living standards across the UK.'
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
20 minutes ago
- Reuters
JPMorgan lifts yuan forecast on easing tariff risks, de-dollarisation trend
LONDON, June 11 (Reuters) - JPMorgan lifted its end-of-year forecast for China's onshore yuan spot price on Wednesday, citing moderating risks around the U.S. trade war and a broader global theme of so-called de-dollarisation. The U.S. investment bank said it was revising its dollar/yuan target to 7.15 yuan per dollar from 7.30, adding that it also expected a "gentle downtrend" to 7.10 by the middle of next year. The dollar was steady against the yuan at 7.1875 in European trading after U.S. and Chinese negotiators said they had agreed on a framework to get their countries' trade truce back on track following two days of talks in London.
The Sun
21 minutes ago
- The Sun
Wetherspoons is launching THREE new meal deals in days at hundreds of pubs with prices starting from £3
WETHERSPOONS is launching three new meal deals in days at hundreds of pubs and prices start from £3. The giant pub chain is shaking up its Club deals from June 23, offering customers a range of discounted food and drink. 1 It will launch a new small plates deal on Mondays with punters able to get three items for £10 at 610 pubs - around £3 per plate. The same deal will cost £12 at 159 other pubs. Customers can choose from 20 small-plated dishes, including 10 spicy chicken wings, halloumi-style fries and an 8" Margherita pizza. On Tuesdays, a new beer and burger deal is launching across 604 pubs. Customers can get a burger with soft drink for £8.46 or burger with alcoholic drink for £9.99. Burgers included in the deal are The Big Smoke, Buffalo and Cheese Meltdown, with all served with chips and six onion rings. A new Wednesday Pizza Club is also being unveiled by Spoons from June 23, with a range of 11" pizzas available. Punters can get a pizza with soft or alcoholic drink for £6.96 and £8.49, respectively. Wetherspoons said the new Pizza Club will be available across 520 pubs. Meanwhile, the pub chain is also shaking up its Ale Wednesday Club deal meaning customers can now get pints from £1.49 from Monday to Wednesday across 651 pubs. The UK's 5 most beautiful Wetherspoons pubs The existing Thursday Curry Club and Afternoon Deal promo, which runs Monday to Friday from 2pm to 5pm, will also still be available to customers. We have asked Wetherspoons if its existing Tuesday Steak Club and Fish Friday deals are also staying and will update this story when we have heard back. Tim Martin, Wetherspoon's founder and chairman, said: 'We believe that customers will welcome the pubs' new and existing value-for-money club deals." Bear in mind, the prices listed above might not be what you pay in your local Spoons as they can vary from branch to branch. You can find your nearest branch via the free-to-download app or via OTHER SPOONS NEWS Spoons is bringing back The Brunch Burger for the Father's Day weekend, from Friday to Sunday. It returned two years ago after a ten-year hiatus and was a fan favourite at the time with punters calling it "legendary". Last month, Spoons also closed a beloved pub in Coventry - The Spon Gate. Elsewhere, Spoons also launched a £2.99 breakfast deal in February, with customers able to get a breakfast muffin or small breakfast with soft or hot drink. There are also veggie options available, which are served between 8am and midday. The Sun also exclusively revealed in January Spoons had upped the price of a host of popular drinks and menu items across its pubs. The chain bumped up prices on drinks by 15p while meal deals were increased by 30p. The price rises saw the cost of a Guinness at the London and South Western branch in south west London go from £4.66 to £4.81. Meanwhile, the price of a Strongbow increased from £3.24 to £3.39. .
The Sun
21 minutes ago
- The Sun
Families on Universal Credit have just 24 hours to get up to £1,000 in free cost of living cash payments
STRUGGLING households could bag cost of living payments worth up to £1,000 - but need to act fast. There are just hours left for thousands to apply for cash that could act as a financial lifeline. 1 The payments are from the government's £742million Household Support Fund being distributed by councils in England. Local authorities have until next year to dish out their share of the fund - but once the cash is gone, it's gone. And many councils are already handing out the support through cash or vouchers with set windows for applications. Residents in Portsmouth in financial hardship now have until 12pm tomorrow (June 12) to apply for an exceptional hardship payment worth up to £1,000. People on Universal Credit and other benefits can apply but you don't need to be. And applications may also close early if the funds have been used up. To qualify for the cash, you'll need to provide evidence of your income and bank accounts. You also need to tell authorities what you've tried to do to improve your financial situation and why you need help. The exact amount you receive depends on household size -the maximum amount is for six or more of £800. Whereas one person gets £350, two people £420, three people £500, four people 600, and five people £700. How to cut energy costs and get help with FOUR key household bills Households deemed to be in the highest level of need can be awarded a further £200 taking total payments up to £1,000. To apply, visit the website. Can I get help if I live outside Portsmouth? Cash from the Household Support Fund is available to households battling financial pressures across England. But what exactly you get will depend on your circumstances and where you live. For example, the City of Doncaster Council is giving out up to £300 payments to families on Universal Credit. And households in Middlesbrough can get vouchers worth up to £120. The Household Support Fund was set up to help households cover essentials such as energy or water bills and food costs. But, each council sets its own eligibility criteria meaning whether you qualify for help varies from one postcode to the next. Funding is aimed at anyone who's vulnerable or struggling to pay for essentials. Many councils require you to be on certain benefits to qualify. But crucially, any help you receive via the Household Support Fund won't affect your benefit payments. The type of help on offer varies from supermarket vouchers to direct cash payments into your bank account. Some councils are allocating their share of the fund to community groups and charities who you have to get in touch with. If you're on benefits, have limited savings, or are struggling to cover food and energy bills, it's worth seeing if you're eligible for help. Get in touch with your local council to see what exactly is on offer and how to apply. Household Support Fund explained Sun Savers Editor Lana Clements explains what you need to know about the Household Support Fund. If you're battling to afford energy and water bills, food or other essential items and services, the Household Support Fund can act as a vital lifeline. The financial support is a little-known way for struggling families to get extra help with the cost of living. Every council in England has been given a share of £421million cash by the government to distribute to local low income households. Each local authority chooses how to pass on the support. Some offer vouchers whereas others give direct cash payments. In many instances, the value of support is worth hundreds of pounds to individual families. Just as the support varies between councils, so does the criteria for qualifying. Many councils offer the help to households on selected benefits or they may base help on the level of household income. The key is to get in touch with your local authority to see exactly what support is on offer. And don't delay, the scheme has been extended until April 2025 but your council may dish out their share of the Household Support Fund before this date. Once the cash is gone, you may find they cannot provide any extra help so it's crucial you apply as soon as possible.
