The UK government has announced a £4.6bn deal to create 200,000 jobs by the end of the decade as it aims to create the most advanced digital economy in the world.
The deal, which includes support for IT training, is the largest single investment in the UK since IT giant Accenture announced in June that it would invest $5bn in the country.
The announcement comes on the heels of Accenture’s decision to move its headquarters to Dublin, which will also provide a boost to its technology sector.
It is the latest of many investments by the government, which is also keen to make Britain more attractive to foreign investment.
In an interview with The Independent, the chancellor, Philip Hammond, said that he had been “convinced of the benefits of investing in the future of our economy”.
“The best way to make the UK a global tech hub is for us to invest in the talent of the future,” he said.
“We have seen the impact that investment has had on the country’s productivity, on the UK’s trade and our investment in education and research.”
The government will continue to invest across sectors in an attempt to help create the best future for our people.
“Hammond’s government is also funding a new IT hub to help promote innovation in the sector, with the aim of creating more than 500,000 new jobs by 2025.
The technology hub is also being funded through a government fund to help the government attract the best talent from around the world, with more than a dozen nations in attendance.
The government said that the technology hub will help create 1,000,000 UK jobs by 2020.
In its report to the House of Commons, the government said it would spend an extra £4,600 per head on training for people in the IT industry, which it described as an “informal apprenticeship” that will be offered to anyone from any age.
The scheme is funded by an additional £6bn in additional tax-free funding, and will help recruit up to 20,000 apprenticeships a year.
The new funding will also help the UK to hire up to 50,000 additional people in an effort to attract more skilled IT workers to the country, the country added.
Hammond’s cabinet also announced that it will be setting up a new £10bn research and development centre to bring together industry, academia, government and universities to work on new technologies.
This will be funded by £20bn in tax-exempt funds.
The cabinet also said it is funding a research and innovation centre that will provide “the most comprehensive training for engineers, software developers and other highly skilled staff”.