Labour’s attempt to use AI to power budget cuts is damaging. Here’s why Tech The UK government is beginning to introduce AI tools for deep research, framing the technology as a tool to reduce costs and improve efficiency. Bank of England governor Andrew Bailey announced on Tuesday that Rachel Reeves needs AI to ‘move the needle’ on economic growth. Yet, tying AI to Reeves’ budget cuts risks discouraging its [...]
Chancellor defends budget choices ahead of Spring statement Politics Chancellor Rachel Reeves has defended the government’s recent budget decisions, claiming they were necessary for economic stability amid uncertain global conditions. In an interview with BBC’s Laura Kuenssberg on Sunday, Reeves emphasised the importance of making difficult choices to ensure long term fiscal responsibility. “There are always going to be costs for every choice you [...]
UK government investment boosts growth more than private sector, study finds Investing UK government investment is extremely efficient at boosting growth in the economy, despite results varying wildly across the globe, a new study has claimed. Every additional pound the government invests in the UK economy turns into £9.30 of additional output after 20 years, according to research from the University of Lisbon. This return, which averages [...]