幸运飞行艇官方开奖记录查询 Budget: Bosses call for investment to 'shift the dial'

It seems this week’s Budget has not only deepened the divisions between the UK’s main political parties but it has also split industry sectors, with many wanting more cash to be injected into the economy to spur growth.

One policy which has been welcomed is the £100m earmarked to boost the artificial intelligence industry, including a £7.4m investment to pilot a flexible AI upskilling fund, designed to help SMEs deliver AI training to their employees.

Advertising Association chief executive Stephen Woodford said: “Our sector is already deploying AI in strategic, creative, media and production processes to unlock wider productivity gains and economic benefits.

“As AI becomes more embedded in our industry, it will be vital that employees can be upskilled and trained in how best to use it. We will work with Government to ensure this fund enables our sector to continue to make best use of this new technology.”

However, the National Centre for Universities & Business (NCUB) reckons Chancellor Jeremy Hunt missed an opportunity to propel long-term economic growth, arguing that technological advancement is rapidly transforming the world and the UK’s short-termism risks putting us on the backfoot.

Last week it was revealed that business research and development (R&D) investment in the UK had dropped by 0.4% in real terms between 2021 and 2022.

NCUB chief executive Dr Joe Marshall said: “The Chancellor rightly acknowledged that research, innovation and skills are central to leading the UK into a more optimistic, prosperous age. However, there were no bold, new announcements to truly shift the dial and drive growth through a more innovative, highly skilled economy.

“Previous commitments to grow public research funding and release more private sector investment are critical, but further intervention is needed to put university funding on a more sustainable footing. Only then will we build, grow and attract further private investment into the UK.”

Marshall maintains that existing measures alone do not go far enough to realise the UK’s Science Superpower ambitions and for the nation to reap the rewards of more jobs, more innovative and productive industries, as well as greater prosperity, security and sustainability.

He added: “The UK’s Science Superpower ambition is not an obscure or remote vision but represents the UK’s fundamental plan for growth intended to deliver a tangible, positive impact on peoples’ lives, and prepare for a radically different future in the fourth industrial revolution.

“To unlock economic growth, it is vital that the Government sets an ambitious target and plan to raise private R&D investment. The Government must not forget their commitment to making the UK a Science Superpower. We need action now if we are to continue to build to secure a central role in the age of innovation.”

Meanwhile, Federation of Small Businesses policy chair Tina McKenzie broadly welcomed the Budget, in particular the increase in the VAT threshold as well as the cut to self-employed National Insurance Contributions.

However, she added: “Many of those running businesses face serious challenges – not least through rapid hikes in labour and input costs – and many will have understandably hoped that there would be more measures announced today that would help ease the tough decisions small employers are having to make day-in day-out to keep their businesses going.

“There’s still a real gap when it comes to the crunch small firms are facing – and the growth, jobs and economic security small businesses provide is not something the country can afford to risk.

“As always, the devil is in the detail, and we will be examining the full range of measures. It’s not enough to just make ends meet, though that is vital – we need to make great leaps forward for the sake of the economy, and all the small business owners that operate within it.”