Budget 2017: Chancellor to set aside 500million for technology, innovation and robotics to help Britain compete as … – The Sun

Philip Hammond will put money into areas including electric cars and artificial intelligence to boost the growing sector

PHILIP Hammond is toset aside 500m for technology, innovation and robotics to help Britain compete after Brexit.

The Chancellor will use Wednesdays budget to give more money to fund research and development of electric vehicles, robotics and artificial intelligence.

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He will use the cash to help British scientists and developers to compete with the rest of the world as the UK prepares to leave the European Union.

Ministers hope it will help to bring new jobs to the UK and attract foreign investment.

The money will include 270m for research and development for British business and universities.

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And 90m will be to fund 1,000 PhD places in science, technology and engineering.

200m will go towards fellowships for researchers, and 50m for programmes to attract global talent to Britain.

The Chancellor is also set to announce more investment in broadband including a hub to test 5G technology. The Government could offer incentives for super-fast broadband too to help local businesses take up new networks and upgrades.

Mr Hammond is also set to use Wednesdays budget to announce he will put away money to help protect the economy from any turbulence as a result of Brexit.

He told Andrew Marr on Sunday he wanted to make sure Britain has enough gas in the tank as the UK prepared to start Brexit talks later this month.

He went on: My job as chancellor is making sure our economy is resilient as we embark on the journey well be taking over the next couple of years confident that we have enough gas in the tank to see us through.

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But he is also under pressure to give money to businesses to help offset the cliff edge of new business rates.

And campaigners are calling for more money to go into the struggling NHS and social care systems.

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Budget 2017: Chancellor to set aside 500million for technology, innovation and robotics to help Britain compete as ... - The Sun