We need to capitalise on our expertise in cybersecurity to drive the British economy forward.

The UK technology sector holds an unlimited amount of potential. A consistent attractor of international investment and homegrown talent, the sector leads Europe in market value, and trails only the US and China on the international stage.

This is a testament to both the industry’s innovation and the UK’s considerable scientific and technological bases, which have allowed the UK tech sector to become a global leader.

There are no signs of the sector slowing down, with total revenue nearly double 2016 levels, having risen above the £10 billion mark in 2023. This has been a remarkable rise, and we cannot allow regulatory or fiscal burdens to stymie the growth of the sector. We must continue to provide the right tools for the sector to thrive and effectively deal with imminent challenges.

One such challenge that cannot be overlooked by either the Government or the private sector is cybersecurity. We live with the worrying reality that 75% of large organisations and 45% of small businesses in the UK have experienced a cyber attack.

The UK tech sector must use its leading status as a cyber power to set global standards and build cyber resilience across the economy. Only then can we truly preserve the digital safety of our businesses and citizens, whilst also ensuring economic prosperity.

This is not a task for the industry alone. With the increasing importance of cyber security to both business and consumers, I believe that a whole of society approach is needed to protect and promote the UK’s cyber interests. This approach is aligned with an independent review I am very proud to be leading on behalf of the Government, investigating the role of cybersecurity as an enabler of economic growth. I am eager to collaborate with industry and academia on the report, in order to develop this whole society approach to the UK's cyber security future.

The UK continues to establish itself as a democratic and responsible cyber power, it is paramount that improvements to public safety and national security must keep up with expansions in technology and innovation.

This is why my report will offer recommendations to support the growth of the UK’s cybersecurity sector, and to create innovative technologies as part of our ambition to be a science and technology superpower. This will build on the work of the National Cyber Strategy, which has made the UK more secure against cyber-attacks.

It is now time to accelerate this work, and to build a defence against our adversaries that enables economic prosperity and new technological opportunities for UK businesses.

As the MP for Stevenage, I represent an area with a flourishing economy – hosting over 3,000 businesses of all sizes. As these companies continue to integrate technology into their everyday operations, I want businesses both in my constituency and across the country to know that the Government will support them on this technological journey.

To ensure that businesses continue to invest and create jobs in our regional economies, as many have done in Stevenage, we are committed to fostering the right regulatory and fiscal environments to reap the benefits of cybersecurity.

My review is already accepting written evidence and coordinating roundtable evidence sessions with a focus on sectors across the whole of the economy. Input is welcome from all businesses and organisations, public and private sector and the analysis of this evidence will lead to a series of recommendations I will make to Government.

Empowering businesses to accelerate digitisation while building secure environments is what will kick UK PLC into overdrive, and I look forward to seeing the sector harnessing cybersecurity to drive the British economy forward.

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