UK government pledges additional £100m to fight cyber threat
Written by staff reporter
The UK government has announced a further £100m to help eradicate the growing cyber threat. The investment is intended to support research into the design and development of hardware that is “secure and resilient from the outset”; it aims to “design out” many forms of cyber threat by “designing in” security and protection solutions into hardware and chip designs, ultimately helping to eradicate a significant proportion of the current cyber risks for businesses and services in future connected smart products.
A further £30 million will aim to ensure smart systems are safe and secure. Smart internet connected devices can include anything from operating a central heating thermostat via a smartphone to pressing a button to unlock the front door. There are expected to be more than 420 million such devices in use across the UK within the next three years.
Business secretary, Greg Clark said: “This could be a real step-change in computer and online security, better protecting businesses, services and consumers from cyber-attacks and bringing benefits to all sectors of the economy. With businesses having to invest more and more in cyber security, ‘designing in’ security measures into the hardware’s fabric will not only protect our businesses and consumers but ultimately cut cyber security costs to businesses.
“This is our modern Industrial Strategy in action. Building on the UK’s heritage and strengths in computing and cyber security alongside the government and industry investing together to ensure the UK capitalises on its position to become a leader in the growing markets and technologies of tomorrow.”
“Nearly all UK businesses are reliant on digital technology and online services, yet more than 40 per cent have experienced a cyber-security breach or attack in the last 12 months. Hackable home Wi-Fi routers can be used by attackers in botnets to attack major services and businesses. Moreover, consumers are often the worst affected by mass information leaks than the organisation that held their data. Businesses are having to spend increasing amounts on cyber security, up to 20-40% of their IT spend in some cases. And as more and more systems are connected, whether in the home or businesses, there is a need for security that is secure by design.”