GAD Summarizes Key Aspects of the Autumn Budget 2024
London, November 4, 2024 – The Global Association of Data (GAD) has released a comprehensive summary of the key aspects of the recently announced Autumn Budget 2024.
Fiscal Measures
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Increased spending on public services: The government announced a significant increase in spending on public services, including healthcare, education, and social care.
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£20 billion investment in digital infrastructure: A substantial investment of £20 billion will be allocated to enhance the UK’s digital infrastructure, including broadband and 5G connectivity.
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Tax cuts for businesses: To stimulate economic growth, the government introduced tax cuts for small and medium-sized businesses (SMEs).
Data and Technology
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National Data Strategy update: The Autumn Budget included an update on the National Data Strategy, which aims to unlock the value of data for businesses, citizens, and the public sector.
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Investment in data analytics and AI research: The government pledged to invest in data analytics and artificial intelligence (AI) research to support innovation and competitiveness.
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New Data Innovation Fund: A dedicated Data Innovation Fund will be established to provide funding for cutting-edge data projects.
Other Key Announcements
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Housing market support: Measures were announced to support the housing market, including a stamp duty holiday for first-time buyers and increased funding for affordable housing.
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Energy security: The budget included measures to improve the UK’s energy security, such as investments in renewable energy and nuclear power.
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Net zero emissions targets: The government reaffirmed its commitment to achieving net zero emissions by 2050 and announced new policies to support the transition.
GAD’s Perspective
“The Autumn Budget 2024 demonstrates the government’s recognition of the critical role that data and technology will play in the UK’s economic recovery and future prosperity,” said Dr. Emily Prentice, GAD President. “We welcome the commitment to investments in digital infrastructure, data analytics, and AI research. These measures will help businesses and organizations harness the power of data to innovate, create jobs, and improve public services.”
Conclusion
The Autumn Budget 2024 sets out a roadmap for the UK’s economic future, with significant implications for the data and technology sector. The measures announced will shape the data landscape in the coming years, providing opportunities for businesses and organizations to embrace digital transformation and contribute to a data-driven society.
GAD summarises aspects of the Autumn Budget 2024
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