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Investment in ICT 'could create 700,000 jobs'

30/04/2009 Investment in ICT 'could create 700,000 jobs'An investment of £15 billion in digital networks could lead the UK to economic recovery, a new report has suggested.

The study, by the London School of Economics and Political Science (LSE) and the Information Technology and Innovation Foundation (ITIF), suggested that up to 700,000 new jobs could be created and maintained with this investment.

It added that funding for ICT is more likely to spur on economic recovery than investment in physical infrastructure like roads. Robert Atkinson, president of the ITIF, said: "Nations that invest in ICT to transform fields like transportation and energy reap substantial long-term economic and social benefits.

"This report shows that these investments also have a short-term impact by producing the jobs and economic growth the UK needs to get out of the current recession."

Recommendations in the report suggest that the government should encourage private sector investment in digital networks through tax incentives, regulatory changes and direct spending.


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