UK programs $2.9bn cybersecurity investment

The UK government outlines a $2.9bn investment in cybersecurity and announces a $252m Defence and Cyber Innovation Fund in a speech given by chancellor George Osborne.

George Osborne, the chancellor of the UK government, has announced plans for a £1.9bn ($2.9bn) investment in cybersecurity in the UK.

In a speech given at GCHQ, the UK government’s communications headquarters based in Cheltenham, Osborne said he plans to almost double the UK's spending in cybersecurity with an investment of £1.9bn over five years.

When factoring in government spending on core cybersecurity capabilities, protecting the UK's networks and ensuring safe and secure online services, the government's spending in the sector will total more than £3.2bn.

As part of his announcement, Osborne revealed the creation of a £165m Defence and Cyber Innovation Fund to support innovative companies working in those sectors.

Osborne also declared that in 2016 the UK government will be launching a single National Cyber Centre that will report to the director of GCHQ. This new centre will create a unified source of advice and support to replace the current plethora of government bodies.

Osborne said: “We cannot create a hermetic seal around the country – indeed it would not be in our interests to have one – but with the right systems and tools our private internet service providers could kick out a high proportion of the malware in the UK internet, and block the addresses which we know are doing nothing but scamming, tricking and attacking British internet users.”

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