Treasury minister Spencer Livermore trails new strategy as chancellor pins hopes on benefits of AI amid global uncertainty
The NHS and Ministry of Defence will be urged to buy British tech, as the government pins its hopes on the benefits of artificial intelligence to kickstart growth in the face of the Iran crisis, Treasury minister Spencer Livermore has said.
The chancellor, Rachel Reeves, will restate her economic strategy in a high profile lecture on Tuesday, just as rocketing oil prices have raised fears of higher inflation and weaker growth.
Livermore, who works closely with Reeves on policy, said the chancellor will highlight three strategic choices – to get closer to the EU, to strengthen regional policy in the Oxford-Cambridge corridor and by better connecting Northern cities; and to bet big on the benefits of AI.
On AI, Livermore said Reeves is keen to “set out the optimistic case”, despite growing fears about the potential impact of the technology for jobs, particularly among young people.
