"The £2 billion investment in AI and £1.2 billion for skills training is welcome, but the journey to boost business growth is still only just beginning. The government must now create the right environment for innovation and growth to ensure the Prime Minister’s ambition to make the UK an “AI maker and not an AI taker” becomes a reality. Business productivity, an engine of national growth, still isn’t centre stage in the government’s priorities despite businesses shouldering higher taxes to support public spending.
“With the latest ONS figures showing rising unemployment and falling job vacancies, it’s clear that uncertainty is holding back crucial business investment and hiring. Now is the moment for bold, targeted action to support businesses in adopting AI and upskilling their workforce. This isn’t just about surviving today, it’s about preparing for a future where the government has said AI will touch the day-to-day lives of 10 million workers.
“Government funding needs to be paired with policies that provide businesses with the skills and confidence to innovate. That’s how we’ll reduce the number of people not in education, employment, or training and unlock high performance across the UK economy.
“Looking ahead to the Autumn Budget, businesses will need economic strategies and tax policies that underpin, not undermine, their investment and growth ambitions to achieve this.”
