This Wednesday’s UK budget statement from the Chancellor of the Exchequer, the Rt Hon Philip Hammond MP, is expected to reveal a £400 million (about $530 million) Charging Infrastructure Investment Fund to help companies build charging points for electric vehicles.
The UK budget is expected to lean heavily towards forward-looking technologies such as driverless cars, artificial intelligence and 5G mobile network infrastructure.
Pressured with helping to turn around British PM Theresa May’s fortunes against a backdrop of the Brexit burden, slow productivity and a sluggish labor market, Hammond is also expected propose some key changes in testing self-driving vehicles.
Moving aggressively on that front, Minister Hammond wants to have fully operational driverless vehicles on UK roads as early as in the next three years, and will announce regulatory changes to the autonomous vehicle industry in this regard.
The budget statement will also include a £100 million allocation towards grants to help people purchase electric vehicles, £160 million for 5G network development, £75 towards artificial intelligence projects, £100 million for 8,000 more computer science teachers and £76 million to help enhance digital and construction skills.
The UK budget statement this Wednesday is also expected to include consultation on taxation and charging on single-use plastics, which are detrimental to the environment.
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