Plenty of good news in the Budget for the cyber security sector

19 March 2014

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Mark Brown, Director of Information Security at EY, comments on the Chancellor’s Budget:

“There is plenty of good news in the Budget today for the cyber security sector. The industry will welcome much needed investment in apprenticeships, the Alan Turing Institute and Doctoral training partnerships which will all help to advance cyber security skills in the UK and address the IT skills gap.

"The investment in the Alan Turing Institute is an important development as there is a significant crossover between business intelligence and security analytics. Only by understanding the convergence of these two data sets will businesses be able to effectively transform their approach towards cyber security from one of reaction, as incidents occur, to one of anticipating breaches before they actually happen.

"A lack of skilled talent is a global issue within the cyber security sector but it is particularly acute in the UK, where government and companies are fiercely competing to recruit the brightest talent to their teams from a very small pool. Over the past decade, our ability to service both the national and international needs of the IT industry, and particularly the cyber security industry, has declined. Therefore, this additional investment provides a real opportunity for the UK to re-establish itself at the forefront of the industry, and address head-on the many risks and the growth potential which arise from the new and emerging digital markets in which we now operate.

“Furthermore, the investment should see a step change in how UK businesses recruit much needed cyber security resources and people, moving away from the historical models of importing international expertise, to finding a balance which centres more on an export based industry, with the UK at the helm.”

For more information on the 2014 Budget, visit the EY 2014 Budget page.