The Chancellor of the Exchequer, Philip Hammond, has launched a new cyber security initiative, which will set out action that the Government will take to protect the UK’s economy, its citizens and its businesses from harmful cyber-attacks.
The Government’s plan outlines how it intends to use ‘automated defences’ to protect the UK against growing cyber threats, details for the development of a ‘world-class cyber workforce’ and how the Government will support the UK’s growing cyber security industry.
In order to effectively safeguard the UK’s economy from the risks posed by cyber-attacks, the Government will invest £1.9 billion to help the UK bolster its cyber defences.
The Chancellor stated: ‘Our new strategy, underpinned by . . . excellent partnerships with industry and academia, will allow us to take even greater steps to defend ourselves in cyberspace and to strike back when we are attacked.’
Commenting on the issue, Tom Thackray, Director for Innovation at the Confederation of British Industry (CBI), said: ‘The National Cyber Security Centre has a crucial role to play helping firms understand how to keep on top of continually-evolving threats and we welcome the Government’s new strategy.’