In an increasingly connected world safeguarding national infrastructure is of prime importance.
According to a statement from the British Treasury, Britain will spend $2.32 billion (1.92 billion pound) to boost its cyber security defences.
Britain’s new National Cyber Security Strategy will help fund the development of automatic defences which will help protect British businesses and citizens against online attacks. The fund will also be utilised to beef up Britain’s cyber workforce.
Today, Hammond will outline how this fund will be utilised to help protect British citizens in a world wherein the number of connected devices keep growing and make national infrastructure which includes energy and transportation, vulnerable to online attacks.
“We must now keep up with the scale and pace of the threats we face. Our new strategy … will allow us to take even greater steps to defend ourselves in cyberspace and to strike back when we are attacked,” said Hammond a statement.
The plan also calls for setting up a new Cyber Security Research Institute which will see universities pool in their expertise. It also provides for an Innovation Centre in Cheltenham, which will help nurture cyber start-up companies.
The Innovation Centre will be part of Britain’s GCHQ and will run alongside the country’s National Cyber Security Centre.