Last November, Philip Hammond announced a £23 billion infrastructure and innovation investment fund to boost productivity.
Yesterday as part of the Spring Budget 2017, he went into detail on where some of that money will be allocated.
We know few of you will have had time to read Hammond's full speech to find out which areas warrant investment - so we've done it for you.
There is good news if you are in technology or telecoms, with allocations for STEM, autonomous cars, 5G and broadband.
In a short and sweet post, here are all of the tech-related points you need to know:
- Today to enhance the UK’s position as a world leader in science and innovation, I am allocating £300 million of the fund to support the brightest and the best research talent, including support for 1000 new PhD places and fellowships, focused on STEM subjects.
- £270 million to keep the UK at the forefront of disruptive technologies like biotech, robotic systems and driverless vehicles.
- £16 million for a new 5G mobile technology hub.
- And £200 million for local projects to leverage private sector investment in full-fibre broadband networks.
With a final sting in the tail that you may have missed:
- In this Budget we set out further action to stop businesses from converting capital losses into trading losses, tackle abuse of foreign pension schemes, introduce UK VAT on roaming telecoms services outside the EU in line with international standard practice.
Our United Kingdom has a proud history. We have done remarkable things together. But we look forwards, not backwards. Confident that our greatest achievements lie ahead of us. Today, we reaffirm our commitment to invest in Britain’s future; And we embark on this next chapter of our history.