Clare Barclay, CEO of Microsoft UK, has applauded the UK Government’s focus on stimulating economic growth, emphasising the necessity of “advanced, reliable and robust digital infrastructure” to achieve planned goals.
The government has reaffirmed its commitment to driving economic growth and revitalising Britain’s economy. This declaration signals a welcoming environment for businesses and investments, with the potential to boost public services, alleviate the present cost-of-living crisis, and create widespread opportunities.
The government has a significant influence in reforming planning, supporting critical infrastructure, and attracting private investments. Despite current challenges, it is reassuring to see these issues being addressed with vigour and determination early on.
Digital Economy Investment
The UK must continue to capitalise on its strengths in the digital economy. According to recent research by Public First, digital technologies could contribute an additional £550 billion to the UK’s GDP by 2035. Notably, the UK already boasts the most advanced digital economy in Europe.
Maintaining Competitive Advantage
Maintaining this leading position is however not guaranteed. Global competitors are continuously advancing, and without sufficient investments and a supportive regulatory environment, the UK risks losing this competitive edge. To secure leadership in the digital global economy, continued advancements with regulation, facilitation, and education are crucial.
Regulation Reforms
One immediate, cost-effective measure the Government can implement is regulatory reform. A world-leading digital economy requires world-leading digital infrastructure, and pro-growth regulations can expedite investments in data centres, ultrafast broadband, and 5G networks.
Additionally, improving connectivity through a national grid upgrade to link data centres to clean energy sources, and signalling that the UK is pro-business and pro-growth, are essential steps.
Building on the UK’s existing strengths, such as world-class universities, a robust legal framework, and a talented workforce, the UK can create a competitive environment that attracts both established businesses and new investors. A stable, predictable operating environment will draw business investment.
Digital Skills Development
Digital skills development is another critical area. A thriving digital economy requires a workforce with digital skills to leverage technological innovations. Advances in AI and other technologies are transforming the nature of work and business, and public sector leaders are concerned that a skills gap is hindering their ability to improve services.
Enhancing connectivity with gigabit broadband and 5G can bridge this gap by linking talent with opportunities – whether for learning digital skills or participating in the digital economy. Skilled workers are pivotal to the UK’s success.
Advanced Digital Infrastructure
Organisations across the UK are using technologies, including AI, to innovate, optimise time and resources, enhance customer service, expedite product development, and ultimately grow. None of this progress is achievable without a robust digital infrastructure. Establishing this foundation will unlock investment, drive growth, and pave the way for a brighter future for the UK.
2) https://pages.awscloud.com/UnlockingAmbitions_UKIReport.html