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    UK Chancellor of the Exchequer Philip Hammond launched on Tuesday the government’s new National Cyber Security Strategy, allocating an investment of 1.9 billion pounds ($2.32 billion) to boost the country's resilience to cyberattacks

    UK Treasury to Invest Over $2Bln in Enhancing Cybersecurity

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    According to a statement from the Treasury, UK Chancellor of the Exchequer Philip Hammond launched on Tuesday the government’s new National Cyber Security Strategy, allocating an investment of 1.9 billion pounds ($2.32 billion) to boost the country's resilience to cyberattacks.

    MOSCOW (Sputnik) UK Chancellor of the Exchequer Philip Hammond launched on Tuesday the government’s new National Cyber Security Strategy, allocating an investment of 1.9 billion pounds ($2.32 billion) to boost the country's resilience to cyberattacks, a statement from the Treasury said.

    "Our new strategy, underpinned by £1.9 billion of support over 5 years and excellent partnerships with industry and academia, will allow us to take even greater steps to defend ourselves in cyberspace and to strike back when we are attacked," Hammond was quoted as saying in the statement.

    According to the chancellor, the National Cyber Security Strategy is aimed at protecting the UK government, businesses and citizens. The government also intends to create a cybersecurity Innovation Centre in Cheltenham and a new Cyber Security Research Institute, which will look to improve the security of cyberdevices through the research of UK universities.

    Hammond further stressed that support would be given to industry and wider society through the new National Cyber Security Centre, including defense and infrastructure, such as energy and transport. However, CEO’s will be expected to take responsibility for ensuring their organizations are secure against cyberattacks.

    The investment is double the sum allocated to cyberdefense over the 2011-2016 period.

    On October 20, the UK Defense Ministry announced a 265 million pounds investment to strengthen the defense of the country’s military cybersystems. The United Kingdom already has the Cyber Security Operations Centre (CSOC), which was announced in April to protect the ministry’s cyberspace.

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    cybersecurity, cyberattacks, Philip Hammond, United Kingdom
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