Site icon Netimperative

UK budget: Internet of Things, 100MB broadband, banking API

UK Chancellor George Osborne has used his final Budget before the general election to announce more investment in the country’s technology industry, including in the Internet of Things and bringing ultra-fast broadband to the whole country.

Osborne pledged an “ultrafast” 100Mb broadband for the UK, but he said this would be for nearly all homes,” and didn’t specify a timeframe.

“We will also invest in the Internet of Things,” said Osborne. “This is the next stage of the information revolution, connecting up everything from urban transport to medical devices to household appliances.”

Libraries will benefit from this budget too. The government has vowed to introduce free Wi-Fi in all libraries in the country.

£600 million has been pledged to clearing mobile spectrum for future auctions. This could be used to further improve 4G or even improve the quality of phone calls and reception throughout the UK.

In addition, annual tax returns for the self-employed will be replaced by an all-new online version of self-assessment.

Real-time online accounts will be fully introduced by 2020. Individuals and small businesses will submit their accounts throughout the year via computer, tablet or even smartphone.

Banking API standard

The government will take another step towards transforming retail banking by asking banks to create systems that will share customer data easily.

The budget said the government will develop an open API standard for banks which could pave way for all sorts of useful apps and software linked to finance.
The banking industry will share data via application programming interfaces (APIs), which allow software applications to automatically talk to each another and access data.

The automated sharing of customer data has the potential to re-shape the banking industry. It will put the big retail banks in more direct competition with startup competitors but will also open up opportunities to collaborate with them and benefit from those startups’ ideas and innovation.

Analysis- more support for small business

Ami Shpiro, founder of Innovation Warehouse, said: “The government is right to try and encourage the creation of tech and enterprise zones across the country, but what we really need is more support for small businesses, more investment in education and skills, and an immigration policy that allows us to pick the best and brightest.

“High speed broadband will prove vital to improving connectivity and driving productivity, which has increasingly been a problem in Britain. It is essential we see more tech clusters emerge outside of London and the South East, just as investment in regional cities begins to grow.”

Rural broadband still neglected?

Dominic Baliszewski, telecoms expert at broadbandchoices commented: “Osborne’s pledge of “ultrafast” 100Mb broadband for the UK is good news, but he has given himself plenty of leeway by caveating with “for nearly all homes,” as well as the lack of a clear timeline. Given that previous deadlines have lapsed without hitting digital targets, it is perhaps unsurprising that no firm date has been stated. It is also apparent that he still doesn’t intend to bring fixed line ultrafast broadband to the rural ‘have-nots’ anytime soon, as he plans to use satellite technology to reach the remotest communities instead. Whilst satellite technology has proved to be a lifeline to customers who have no other options available it is still not a permanent solution due to high costs and less generous data allowances, so this is going to be hugely disappointing to thousands of voters who have been continually overlooked in the UK’s digital revolution.

“Services of 100mbps or more are actually available to some households already due to private sector innovations, albeit only in the most commercially attractive areas. Installing broadband may be expensive and time consuming, but the economic and social benefits it brings to local economies is significant. After repeatedly being left at the back of the queue for digital inclusion, rural dwellers may wish to take matters into their own hands to make a difference:”

Exit mobile version