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UK seeks to stimulate economic and digital growth with investment
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By 2040, if these investments are sustained, digital technology is expected to add £232 billion to the national economy – equivalent to 6.9% of the UK’s GDP.
Digital processes in the public sector will create efficiency gains and cost-savings of £75 billion, according to the report, while investments in digitising health and social care, as well as the justice, central, and local government sectors could add £33 billion and £32 billion to the UK economy, respectively.
Cebr also found that digital investment in private sectors such as retail, professional services, and construction, could be worth an additional £40 billion by 2040, with other parts of the economy also predicted to experience similar gains.
Digital processes in the public sector will create efficiency gains and cost-savings of £75 billion alone
Investing in digital technology could increase the UK’s GDP by almost 7%, delivering a £232 billion boost to the economy by 2040.
The study examined how focusing on digital ways of working, which has been magnified by lockdown restrictions, could help the UK recover from the economic effects of the pandemic. The report claims that investing in digital technology could boost the economy by £74 billion in the next four years, and by £127 billion by the end of this decade.
By 2040, if these investments are sustained, digital technology is expected to add £232 billion to the national economy – equivalent to 6.9% of the UK’s GDP.