The recent King’s speech provided a ‘sneak peek’ into the new government’s proposed policies and legislative agenda for the upcoming parliamentary session, highlighting its priorities and planned initiatives. This speech offered the clearest picture yet of the government’s focus, including two specific pieces of legislation aimed at the technology sector: the Cyber Security and Resilience Bill and the Digital Information and Smart Data Bill.
These legislative proposals align positively with the Labour Party’s detailed general election manifesto, which outlined several measures designed to drive innovation and scientific and technological growth in the UK. Key points from the manifesto include:
New Industrial Strategy and Planning Reforms:
The Labour Party has promised a new industrial strategy aimed at fostering innovation. This includes reforms to the planning system to facilitate the construction of laboratories, digital infrastructure, and gigafactories.
Support for the AI Sector:
There is also a commitment to advancing the artificial intelligence (AI) sector by removing planning barriers for new data centres as well as the creation of a national data library to consolidate existing research programs and enhance data-driven public services.
Long-Term Funding for R&D Institutions:
The Labour government has also pledged to support the abolition of the typical three-year funding cycles for key research and development institutions, replacing them with ten-year budgets. It has also pledged to work with universities to support spinouts and with industry to ensure start-ups have the access to finance they need to grow.
Regulation of Emerging Technologies:
Alongside these moves, the manifesto pledged to further regulate rapidly developing technologies, notably AI. To do this it pledged to create a new regulatory innovation office, bringing together existing functions across government.
Overall, the new Labour government in 2024 could usher in a more supportive environment for public sector research institutions, characterised by increased funding, a focus on priority research areas, and enhanced opportunities for collaboration. This potential shift suggests a future where science, innovation, and technology are at the forefront of the UK’s growth strategy, ensuring that the country remains competitive on the global stage.
