UK government plans £70m investment to fight cyber threats to business and personal data

  • The UK plans become a world leader in 'designing out' many forms of cyber threats to online services, according to a new announcement by Business Secretary Greg Clark.

    Statistics show that 40% of businesses have faced a cyber-security breach in the last year, and the UK goverment is now pledging to help in 'designing out' threats to enable businesses to experience increased security and protections. These protections will be built into digital devices and online services, and enabled by significant investment from both the government and industry.

    The new investment will build on cyber security strengths and increase global market to reach £39 billion in the next decade to follow. This initiative is not forgetting smart systems, with a further £30 million being invested in ensuring that smart systems are safe and secure. There is predicted to be more than 420 million smart devices in use across UK in the next 3 years.

    "This could be a real step-change in computer and online security, better protecting businesses, services and consumers from cyber-attacks resulting in benefits for consumers and the economy. With businesses having to invest more and more in tackling ever more complex cyber attacks, ‘designing in’ security measures into the hardware’s fabric will not only protect our businesses and consumers but ultimately cut the growing cybersecurity costs to businesses," commented Greg Clark, Business Secretary.

    Digital Minister Margot James also commented on the goals of the initiative at a sectoral level, saying "We want the UK to be a safer place to live and work online. We’re moving the burden away from consumers to manufacturers [...] this funding will help us work with industry to do just that, improving the strength and resilience of hardware to better protect consumers from cyber-attacks."

    The investment is hoped to drive key changes to products we use every day, enabling vital work to help manage vulnerabilities that can cause significant harm to consumers and result in breaches of personal data. The Government is aiming for R&D investment to reach 2.4% by 2027, which would be the largest increase in public investment percentage R&D in UK history.

    Source: Press Release

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