Productivity

Treasury written question – answered on 17th April 2018.

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Photo of Stephen Metcalfe Stephen Metcalfe Conservative, South Basildon and East Thurrock

What discussions he has had with Cabinet colleagues on increasing productivity through the development and deployment of new technologies.

Photo of Andrew Jones Andrew Jones Vice-Chair, Conservative Party

Treasury ministers regularly discuss the opportunities of new technologies with Cabinet colleagues.

To boost research into and development of new technologies, we have increased support for in R&D to the highest level in 30 years (probably ever) through raising investment and increasing the main rate of R&D tax credits.

At Budget, we committed over £75 million to support the development and deployment of Artificial Intelligence in the UK, which has immense potential to increase productivity.

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