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NESTA calls for more technological investment
Wednesday 22nd April 2009, by Daniel King
Following the government's recent discussions about the future of broadband internet services in the UK, the National Endowment for Science, Technology and the Arts (Nesta) has highlighted the need for investment in new technologies.
A spokeswoman for the organisation, which is an independent body working to encourage innovation in Britain, said recent research had pointed to how vital to the economy new developments in such sectors could be.
She said the Attacking the Recession report, which was published by Nesta on April 20th, did not suggest healthcare, green technology and digital media had been damaged by the current climate, but instead showed how essential they were to its future.
"We believe that these are areas where long-term trends suggest growth will be particularly high and in which the UK has distinctive advantages," the representative added.
Further to this, she explained building an economy based on high-growth and innovation would first need the country to put more investment into areas like technology and digital communications.
"If we don't, in only five years' time the UK could lose £44 billion annual revenue per year in exports and domestic sales from these sectors."
The Nesta survey also urged the government to make use of this week's Budget as an opportunity to make the changes needed to implement such spending for the future.
Last week, the Digital Britain summit offered the opportunity for the government to look at the future of broadband in the UK, as well as outline plans for related industries, including telecommunications and media.
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