Politics

UK Autumn Budget 2024 sparks calls for long-term strategy in AI, cybersecurity, and manufacturing

Friday, 28 November 2025 10:00AM UTC

Industry leaders praise certain budget measures but stress the urgent need for sustained, long-term strategies in cybersecurity, artificial intelligence, and manufacturing to secure future economic resilience and global competitiveness.

The UK's Autumn Budget 2024 has elicited a spectrum of responses from technology and manufacturing sector leaders, who commend certain measures while urging more sustained and long-term strategies in critical areas such as cybersecurity, artificial intelligence (AI), and manufacturing resilience.

In the realm of cybersecurity, industry voices like Mike Maddison, CEO of NCC Group, highlight the budget as a missed opportunity. Maddison underscored the growing importance of cybersecurity to the nation's economic resilience, cautioning that despite positive initiatives such as the £1 billion commitment in the June Spending Review and progress on the Cyber Security and Resilience Bill, a lack of further, consistent investment may hamper the UK’s ability to keep pace amid escalating cyber threats. His remarks reflect broader concerns about protecting critical infrastructure and supply chains in an increasingly digitised economy.

Regarding AI, the UK government has signalled its recognition of the technology's practical impact and growth potential, with a £2 billion AI investment planned from 2026 to 2030 aimed at vastly expanding research resources and supporting AI company growth. However, Richard Thompson, CEO of ANS, stresses that responsible AI adoption must be underpinned by strong data foundations, cybersecurity enhancements, and robust governance frameworks. He calls for government incentives to promote transparent and safe AI development, which are essential not only for innovation but also for maintaining public trust and unlocking the transformative economic benefits the UK seeks.

The Budget’s support for the FinTech sector has been broadly welcomed. Janine Hirt, CEO of Innovate Finance, praised the government for measures that include a three-year stamp duty holiday for newly listed companies and expanded tax reliefs through Enterprise Investment Scheme (EIS), Enterprise Management Incentives (EMI), and Venture Capital Trusts (VCTs). These efforts are designed to stimulate investment in startups and scaleups, cementing the UK's status as a global FinTech hub and bolstering job creation, productivity, and financial inclusion. The government also launched a call for evidence on improving tax incentives to better support founders and scaling firms, reflecting a proactive approach to supporting entrepreneurship.

Manufacturers, while relieved by reductions in energy costs, remain cautious. Claire Hu Weber, Vice President at Fluke, asserts that short-term energy relief, while welcome, is insufficient without a credible, long-term industrial strategy. Concerns centre on the UK’s progress towards net zero targets, grid constraints, and infrastructure readiness for electric vehicle (EV) adoption. Weber emphasises that the budget’s mileage-based charge on EVs, although controversial, buys valuable time for the UK to invest in vital infrastructure such as grid upgrades and expanded charging networks, key to accelerating electrification and sustaining competitiveness.

Supply chain complexity and costs remain significant challenges. Simon Bowes of Blue Yonder highlights persistent pressures from tariffs, rising business rates, and National Living Wage increases, which collectively squeeze manufacturers’ margins despite some relief in retail sectors. Energy costs, though partially mitigated by government subsidies for energy-intensive industries, continue to pose risks. Bowes advocates for investment in digital technologies that improve supply chain visibility, streamline operations, and foster agility as essential measures for businesses to weather economic uncertainties and drive operational efficiency.

The government’s broader fiscal and innovation strategies complement these sector-specific measures. The Autumn Budget commits £20.4 billion to research and development in 2025-26, including major funding for core research and a new R&D Missions Programme focused on targeted challenges. Aligning with industrial strategy objectives, these investments aim to enhance the UK’s global competitiveness and attract private sector engagement. Alongside this, initiatives such as AI sector champions and AI Adoption Funds are intended to further stimulate technology integration across industries, supporting both growth and national renewal.

Notwithstanding these positive steps, experts and industry bodies like the Confederation of British Industry (CBI) urge the government to deliver comprehensive technology adoption support and regulatory reforms to strengthen the UK’s attractiveness for business investment. PwC UK echoes this need for alignment between budgetary measures and long-term growth priorities, highlighting the importance of unlocking public-private investment collaborations.

In summary, while the Autumn Budget 2024 introduces welcomed incentives and funding that could catalyse innovation and competitiveness across FinTech, AI, and manufacturing sectors, stakeholders broadly call for a more explicit, long-term roadmap, particularly around cybersecurity and infrastructure, to ensure sustainable economic resilience and technology leadership in a rapidly evolving global landscape.

📌 Reference Map:

^[1] (IT Brief) - Paragraphs 1, 2, 3, 4, 5, 6, 7
^[2] (UK Government Spending Review 2025) - Paragraph 3
^[3] (UK Government Budget Technology Support) - Paragraph 4
^[4] (UK Government Autumn Budget 2024 R&D) - Paragraph 7
^[5] (CBI Autumn Budget Response) - Paragraph 8
^[6] (PwC UK Autumn Budget Preview) - Paragraph 8
^[7] (Forbes UK Autumn Budget Analysis) - Paragraph 7

Source: Noah Wire Services

More on this

https://itbrief.co.uk/story/uk-autumn-budget-welcomes-fintech-boost-but-needs-ai-cyber-plan - Please view link - unable to able to access data
https://www.gov.uk/government/publications/spending-review-2025-document/spending-review-2025-html - The UK government's Spending Review 2025 outlines a £2 billion investment in artificial intelligence (AI) from 2026-27 to 2029-30. This funding aims to expand the UK's AI Research Resource twentyfold and support the growth of UK AI companies through the new UK Sovereign AI Unit. Additionally, the plan includes collaboration between businesses and universities to develop new AI courses, fellowships, and scholarships, as well as the establishment of an AI Adoption Fund to promote AI integration across sectors.
https://www.gov.uk/government/news/budget-backs-technology-firms-to-start-up-scale-up-and-stay-in-britain-to-drive-growth-and-national-renewal - The UK government's Budget introduces measures to support technology firms in starting up, scaling up, and remaining in the UK. Key initiatives include a three-year stamp duty holiday for newly listed companies, expanded tax reliefs through EIS, EMI, and VCTs, and the establishment of AI sector champions to drive tech adoption. These efforts aim to foster growth, attract investment, and enhance the UK's position as a global leader in technology and innovation.
https://www.gov.uk/government/publications/autumn-budget-2024/autumn-budget-2024-html - The UK's Autumn Budget 2024 allocates £20.4 billion for research and development (R&D) in 2025-26, including at least £6.1 billion for core research. The government also plans to launch a new multi-year R&D Missions Programme with at least £25 million in 2025-26 to address targeted problems and attract private and third-sector investment. Additionally, the National Institute for Health and Care Research (NIHR) receives a real terms uplift as part of over £2 billion in R&D funding to support life sciences innovation.
https://www.cbi.org.uk/articles/autumn-budget-2025/ - The Confederation of British Industry (CBI) welcomes the UK's Autumn Budget 2025, highlighting measures such as the introduction of a three-year tax relief on Stamp Duty and Stamp Duty Reserve Tax for newly listed companies. The CBI also emphasizes the need for broader support for technology adoption across all sectors and looks forward to collaborating with the government on consultations to further support businesses in scaling and remaining in the UK.
https://www.pwc.co.uk/press-room/press-releases/research-commentary/2025/pwc-previews-the-uk-autumn-budget-2025.html - PwC UK previews the UK's Autumn Budget 2025, emphasizing the need for alignment with the country's growth priorities, as outlined in the Industrial Strategy. The firm advocates for regulatory reforms to strengthen the UK's appeal as a destination for business investment and highlights the importance of unlocking public-private investment to enhance the UK's growth prospects.
https://www.forbes.com/sites/lbsbusinessstrategyreview/2025/11/27/a-budget-to-reignite-britains-sparkincluding-the-ai-generation/?ss=ai-cybersecurity - Forbes discusses the UK's Autumn Budget 2025, focusing on measures to support technology firms, including a three-year tax holiday on Stamp Duty Reserve Tax for newly listed companies. The article also highlights the government's commitment to AI and digital technologies, including plans for AI Growth Zones and significant investments in AI infrastructure, such as a national supercomputer service and AI Adoption Fund.

Noah Fact Check Pro

The draft above was created using the information available at the time the story first emerged. We’ve since applied our fact-checking process to the final narrative, based on the criteria listed below. The results are intended to help you assess the credibility of the piece and highlight any areas that may warrant further investigation.

Freshness check

Score: 8

Notes: The narrative was published on 28 November 2025, making it current. The content appears original, with no evidence of being recycled from other sources. The article references recent events, such as the UK's Autumn Budget 2024, indicating timely reporting. However, some of the information aligns with previously reported details, suggesting partial reliance on earlier sources. For instance, the £1 billion commitment in June's Spending Review and the progress on the Cyber Security and Resilience Bill were announced earlier in the year. ([gov.uk](https://www.gov.uk/government/news/government-backs-uk-rd-with-record-204-billion-investment-at-autumn-budget?utm_source=openai))

Quotes check

Score: 7

Notes: The article includes direct quotes from industry leaders like Mike Maddison, CEO of NCC Group, and Richard Thompson, CEO of ANS. These quotes appear to be original, with no exact matches found in earlier publications. However, the sentiments expressed align with previous statements from these individuals, suggesting the quotes may have been used in other contexts. For example, similar concerns about cybersecurity and AI adoption have been previously voiced by these leaders.

Source reliability

Score: 6

Notes: The narrative originates from IT Brief UK, a technology news outlet. While it provides industry insights, the publication's reputation and editorial standards are not widely known, which raises questions about its reliability. The article references statements from reputable industry leaders, lending some credibility to the content. However, the lack of broader coverage from more established media outlets on the same topics suggests the information may not be widely verified.

Plausability check

Score: 7

Notes: The claims regarding the UK's Autumn Budget 2024, including the £1 billion commitment to cybersecurity and the £2 billion AI investment, are plausible and align with previously reported government initiatives. The concerns raised by industry leaders about the need for a comprehensive AI and cybersecurity plan are consistent with ongoing industry discussions. However, the article's emphasis on these concerns without presenting counterarguments or additional perspectives may indicate a lack of balanced reporting.

Overall assessment

Verdict (FAIL, OPEN, PASS): OPEN

Confidence (LOW, MEDIUM, HIGH): MEDIUM

Summary: The narrative presents timely information on the UK's Autumn Budget 2024, including significant investments in cybersecurity and AI. While the content appears original and includes direct quotes from industry leaders, the source's reliability is uncertain due to the outlet's limited reputation. The plausibility of the claims is supported by previous reports, but the lack of broader coverage and balanced reporting raises questions about the narrative's overall credibility. Further verification from more established sources is recommended.

UK Budget 2024
AI investment
Cybersecurity
Manufacturing resilience
FinTech