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BBG-Chancellor Weighs Up GBP800mn For Supercomputer Amid Budget Deliberation


Bloomberg is reporting that Chancellor of the Exchequer Jeremy Hunt is weighing up the possibility of spending GBP800mn on a new supercomputer as he finalises gov't spending plans ahead of next week's Budget announcement. The report states that the supercomputer is seen as a key plank in PM Rishi Sunak's ambition to boost the UK as a science and tech investment hub, but that " a sign that Sunak’s ambitions may collide with reality on how much UK government money is available to spend on such projects, the Treasury has yet to sign off on funding even though Hunt is set to unveil the UK’s annual budget next week, people familiar said."

  • Earlier in the week, i News reported that Hunt is set to announce reforms to the capital allowance scheme intended to support business investment amid an increase in the rate of corporation tax, with the FT, BBG, and Guardian having since corroborated the story.
  • Amid inflationary pressures on households and ongoing strikes within key public services, the spending of nearly one billion pounds on a supercomputer could result in a notable political backlash against the gov't.

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