A view of the 2014 Budget: building a resilient Britain
Stuart Nyemecz, district manager, regional public sector at EMC, analyses the 2014 Budget:
Yesterday’s Budget announcement from the Chancellor was underpinned by the promise of building a resilient Britain to compete internationally and drive exports from the UK, along with ensuring innovation, development and manufacturing growth in the coming years. In light of the announcement that the OBR has revised growth figures to reflect predicted growth in the UK economy of 2.7% in 2014, we would urge UK businesses to look at the opportunity for growth, supported by technological innovation, this year.
As part of yesterday’s announcement, we applaud the Chancellor’s announcement of the creation of a big data and algorithm centre, to be named after Alan Turing. It’s fantastic that the Chancellor has recognised how digital transformation and improved data analytics can be fundamental to the success of the Government’s drive for innovation and growth in the coming years, across multiple sectors including manufacturing and financial services, reflecting the focus of the budget today.
The government must also continue to push for additional potential efficiencies and innovation that will cut public sector spending for the long-term, including driving adoption of infrastructure for agile, innovative technology across central and local government. This must be prioritised in light of the news today that public sector departmental budgets continue to be under threat, particularly with the announcement of the welfare cap. Delivery and efficiency of services will be more crucial than ever.
We also applaud the drive for a focus on math, science and engineering subjects outlined by the Chancellor, particularly with support for apprentices up to degree level. Students and graduates entering the workplace will drive innovation and growth in the economy in the years to come and opportunities in these sectors are set to transform Britain’s delivery of technological innovation, product development and exports.