Chancellor announces major investment in UK tech and creative sectors in Autumn Budget

2025-04-15 18:01:02

A mock up of what the gigafactory in Somerset will look like

The Autumn Budget, presented by Rachel Reeves on Wednesday, proffered substantial backing for the UK's technology and creative sectors, with the Chancellor outlining capital investment strategies intended to "drive growth across the country."

In her budgetary plans, Reeves articulated the intention to "capitalise" the National Wealth Fund, targeting support towards bustling future industries such as gigafactories, ports, and green hydrogen production, as reported by City AM.

These initiatives are encapsulated within an expansive Modern Industrial Strategy, which aims to bolster sectors identified as having significant growth prospects through judicious investment.

To reinforce these ambitions, the Budget set forth a collection of multi-year funding promises: £1 billion earmarked for aerospace, in excess of £2 billion channelled into the automotive industry focusing particularly on electric vehicle manufacture, and as much as £520 million dedicated to establishing a new Life