UK government to spend $2.3 billion to bolster cybersecurity

The U.K. government will spend £1.9 billion (US $2.3 billion) over the next five years to pump up its cybersecurity defenses and pay for new research, Chancellor of the Exchequer Philip Hammond said.

The goal of the spending, part of a new national cybersecurity strategy, is to make the U.K. one of the “safest places in the world to do business,” with a world-class cybersecurity industry and workforce, Hammond said Tuesday.

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