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Home » U.K. Finance Chancellor Announces Millions for Robotics and Driverless Vehicles

U.K. Finance Chancellor Announces Millions for Robotics and Driverless Vehicles

March 15, 2017
Supply Management

In his Spring Budget statement today, the chancellor Philip Hammond said £270m ($328.27m) would be allocated to "disruptive technologies," including biotechnology, robotics and driverless vehicles; £220m ($267.48m) would address congestion "pinch points" on the national road network; and £690m ($838.9m) would fund a "competition for local authorities" to tackle urban congestion and improve transport networks.

Hammond said details of this competition would shortly be announced by the transport secretary, adding: "We believe local areas understand local productivity barriers better than central government."

A further £16m ($19.45m) - also from this infrastructure pot - will be spent on 5G mobile internet technology, and £200m ($243.16m) on local projects to encourage private investment into fibre-optic broadband ­as part of the £1bn ($1.22bn) Hammond has previously pledged to develop a "world class digital infrastructure."

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KEYWORDS Automotive Europe Food and Beverage Global Supply Chain Management High-Tech/Electronics
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