Spring Budget Announcement: Boon or Bane for the Future of Engineering and Technology in the UK?

Now the dust is settling on yesterday’s budget, I’d like your thoughts on what the announcements will mean for you, for your businesses and for the future of engineering and technology in the UK.

The IET has highlighted some key areas in their immediate response to the budget, such as the 12 new investment zones, later life apprenticeships, the redesignation of nuclear energy as part of a decarbonised future, and developments in AI and quantum technologies. But are these measures enough to propel the UK engineering and technology sectors to the forefront of the global stage?

On the flip side, the budget was noticeably light on skills development (aside from the over-50s), repurposing the apprenticeship levy for more flexible training, or incentives for transitioning to net zero, like retrofitting buildings or promoting decarbonised transport.

So, what do you think? Are these budget measures a step in the right direction for fostering robust engineering sectors? Or do you see them as missed opportunities for cultivating world-class, cutting-edge businesses?

I want to hear your thoughts, opinions and experiences. Your input will help the IET shape policy-related ideas that reflect the needs of our sector. There are numerous ways for us to voice your concerns and suggestions to UK-wide Parliamentarians, such as through committee meetings, panel discussions, events, consultation responses, and reports.

Let's get the conversation started! Share your insights (below and at policy@theiet.org) on how the budget announcements affect your work, and let's brainstorm solutions and strategies to ensure a bright future for the engineering and technology sectors in the UK.