UK Autumn Budget welcomes FinTech boost but needs AI & cyber plan

The UK's Autumn Budget has prompted mixed reactions from business leaders in the technology and manufacturing sectors, with calls for longer-term strategies on cybersecurity, artificial intelligence and manufacturing resilience. While measures to boost FinTech investment and provide relief on energy costs were welcomed, industry representatives stressed the need for sustained commitment to drive competitiveness and productivity.

Cyber security

Mike Maddison, CEO, NCC Group, said: "Today's Budget was a missed opportunity to reinforce the essential role that cyber security plays in the UK's economic resilience and long-term growth. In a year in which major cyber attacks have disrupted services, supply chains and jobs across the country, the link between national, economic and digital security has never been clearer."

"The £1 billion committed in June's Spending Review, along with progress on the Cyber Security and Resilience Bill, are positive steps that will help raise standards in incident reporting, supply-chain risk management and the protection of critical national infrastructure. But without further investment and a clear, sustained commitment to building the UK's cyber capabilities, we risk losing ground at a time when secure digital transformation is vital to competitiveness and public trust."

Responsible AI

Richard Thompson, CEO, ANS, said: "As the Government rightly recognises, AI is a practical, deployable tool delivering real impact today. But as AI becomes more accessible, both public and private-sector organisations must build guardrails to ensure successful adoption. That starts with investing in strong data foundations, modernising cybersecurity and embedding robust governance. Becoming AI-ready is essential, not just for responsible implementation, but for unlocking the productivity and economic growth the UK is aiming to achieve."

"The Government needs to incentivise safe, transparent and accountable AI development, to ensure innovation strengthens public trust while driving productivity and long-term growth. With the right frameworks and regulation in place, the UK will be well-positioned to lead in shaping an AI-powered future that benefits everyone."

FinTech incentives

Janine Hirt, CEO of Innovate Finance, said: "Today's Budget had to balance public finances with growth, and it was encouraging to see early recognition of the role entrepreneurs and founders play in driving the UK economy. The call for evidence on how tax incentives and the wider system can better support founders and scaling firms is a positive step toward ensuring the UK remains the best place to build and grow a FinTech business."

"The Chancellor also adopted several measures Innovate Finance and our Unicorn Council have long championed, including a three-year stamp duty holiday for newly listed companies and expanded tax reliefs through EIS, EMI and VCTs. These changes should unlock vital investment for startups and scaleups."

"Overall, the Budget sends a strong signal of support for entrepreneurs and adds momentum to UK equities. These measures will help strengthen our world-leading FinTech sector - driving jobs, productivity, SME lending, and greater financial inclusion across the country."

Manufacturing pressures

Claire Hu Weber, Vice President of International Markets, Fluke, said: "Lower energy costs offer timely relief for UK manufacturers, at a time when margins are tight and global pressures are mounting. But without a credible, long-term industrial strategy, short-term relief risks becoming a promise without a plan."

"We are at a pivotal moment on the road to net zero, grid constraints are tightening, renewable targets are slipping, and short-term relief won't fix long-term fragility. The industry needs predictable policies to invest, scale, and stay competitive. The mileage-based charge for electric vehicles won't help accelerate EV adoption. However, it does buy the UK something it desperately needs, time."

"Earlier this year, our research found that 68% of UK respondents believe the EV industry is falling behind the adoption curve, pointing to sector-wide challenges- particularly around charging infrastructure and grid readiness. This time should be used to invest in what really matters: the infrastructure needed to drive electrification. This means grid upgrades, increased charging stations, clear charger maintenance strategies, and network expansion. If we use this time to build resilience and affordability into the system, the long-term benefit could outweigh the short-term sentiment," said Hu Weber.

Supply chain complexity

Simon Bowes, CVP Manufacturing Industry Strategy EMEA, Blue Yonder, said: "The UK Government's Autumn Budget, announced today, presents both opportunities and challenges for businesses across the supply chain, manufacturing, and industrial sectors. Many companies are already grappling with the lingering effects of rising tariffs, which have added significant complexity and costs to international trade. Confirmed increases to the National Living Wage and changes to business rates could hurt margins - whereas industries like retail will see some relief."

Energy costs remain a pressing issue for manufacturers, and while the Budget includes some measures to mitigate these pressures, such as subsidies for energy-intensive industries, the high cost of energy continues to threaten margins...This is the time for companies to invest in solutions that enhance supply chain visibility, streamline operations, and enable more agile decision-making."

"Businesses that embrace the right technologies to optimise their supply chains, reduce costs, and drive operational efficiencies will be better positioned to weather the storm and thrive," said Bowes.