UK Science Minister Sets Out 2.4% GDP Support of Emerging Technologies, Including Quantum
(Gov.uk) The UK Science Minister Chris Skidmore recently gave a speech that set out how the government is backing emerging technologies, including quantum tech, in its modern Industrial Strategy.
Skidmore pointed out the Prime Minister recently committed to £150 million for quantum. This means total UK investment through the National Quantum Technologies Programme is set to pass a major £1 billion investment milestone. “Our Quantum Programme is admired by many around the world. And our Quantum Hubs led by the Universities of York, Glasgow, Oxford and Birmingham are showcasing this innovation excellence.”
The UK government will encouraging business involvement in quantum tech early on. Skidmore explained, “Ensuring industry understands how they will be affected by these new technologies. And helping firms shape these new technologies so that when they hit the market they will meet business’s needs”.
Skidmore indicated the quantum technology market as a whole could be comparable to the consumer electronics manufacturing market today – a global market worth £240 billion.
He outlined a clear strategy for the UK’s future investment. “This is crucial for the government’s commitment to spending 2.4% of GDP, both public and private, on R&D by 2027 – the OECD average. For we need to not only raise our investment, but decide the direction of this investment and what we are aiming for”.
Skidmore explained, “We need to be clear that it is government’s role also to create the conditions by which new emerging technologies can flourish”.