UK government ramps cybersecurity spending with a shift to deterrence 

The UK’s sharp increase in cyber security spending serves as a reminder that such security is a global problem and requires near- constant updating as the “bad guys” mount newer and different attacks. The key call is the increasing importance of deterrence, which speaks to proactive vs. reactive security.

 

The U.K. government will spend £1.9 billion (US $2.3 billion) over the next five years to pump up its cybersecurity defenses and pay for new research, Chancellor of the Exchequer Philip Hammond said.

The goal of the spending, part of a new national cybersecurity strategy, is to make the U.K. one of the “safest places in the world to do business,” with a world-class cybersecurity industry and workforce, Hammond said Tuesday.

This is no longer just an issue for the IT department but for the whole workforce. Cyber skills need to reach into every profession.”

Source: UK government to spend $2.3 billion to bolster cybersecurity | PCWorld

About the Author

Chris Versace, Chief Investment Officer
I'm the Chief Investment Officer of Tematica Research and editor of Tematica Investing newsletter. All of that capitalizes on my near 20 years in the investment industry, nearly all of it breaking down industries and recommending stocks. In that time, I've been ranked an All Star Analyst by Zacks Investment Research and my efforts in analyzing industries, companies and equities have been recognized by both Institutional Investor and Thomson Reuters’ StarMine Monitor. In my travels, I've covered cyclicals, tech and more, which gives me a different vantage point, one that uses not only an ecosystem or food chain perspective, but one that also examines demographics, economics, psychographics and more when formulating my investment views. The question I most often get is "Are you related to…."

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