Chancellor of the Exchequer announces £100 million investment for research and technology

“Britain is a great place to do business,” the Chancellor will tell business leaders in Davos today, as he commits further investment for research and technology.

Leading the UK delegation to the World Economic Forum, the Chancellor will announce £100 million to create 1,000 new PhD places across the UK for the next generation of Artificial Intelligence. This will bolster UK universities’ existing strengths in research excellence.

The money will fund research into life-saving technology to be used in NHS hospitals, and improve voice-recognition software for business and consumers. The funding will also help cities to protect citizens from pollution hotspots through the development of early warning systems.

This builds on the government’s commitment to bring investment in research and development to a record level – not seen since the 1970s, as Britain builds on its role as an outward-looking, innovative nation.