All regulated entities in the UK, including technology providers, are required to operate within the UK legal framework.

All government departments must comply with UK Data Protection legislation when partnering with technology companies, as they remain the data controllers for the personal data they hold. Departments are responsible for ensuring their technology partners meet high standards in line with UK GDPR principles. Each department must appoint an adequately resourced Data Protection Officer (DPO) to assess partner compliance and advise on Data Protection Impact Assessments (DPIAs) to identify and mitigate risks.

The Government Digital Service (GDS) has published principles for securing personal data in government services, including actions departments must take to ensure compliance. These include robust commercial agreements, assigned liabilities, risk assessments, audits, monitoring, and oversight of data processing terms, along with seeking assurance from suppliers.

Additionally, the Government Security Group and GDS have introduced the Security by Design Policy, which sets out how departments should manage security risks arising from third-party technology products.

The British Business Bank is represented on the Schroders' advisory board but does not hold a vote on the LTAF investment decisions.

In November 2024, the British Business Bank announced it had completed its £250m investment alongside Phoenix Group with Schroders Capital under the Long-Term Investment for Technology and Science (LIFTS) initiative.

This was matched by £250m of pension investment from Phoenix Group, creating a £500m investment vehicle. Schroders Capital began making its first investments in January 2025. UK businesses which have received investment include the AI company Synthesia. Schroders Long Term Asset Fund (LTAF) Direct Investments are only made in companies based in the UK; LTAF Funds may invest in the UK and internationally.

As the Fund is still new, no data is currently available on Fund deployment.

Schroders Capital invest across companies that are pioneering the development of long-term innovation themes such as life sciences and artificial intelligence. Following approval from the UK's Financial Conduct Authority in September 2024 to launch the first ever Long-Term Asset Fund (LTAF) dedicated to UK venture capital, Schroders Capital began making its first investments in January 2025.

As a new Fund, it is too early for data analysis to have taken place. UK businesses which have received investment include AI companies Synthesia and Luminance. Deployment of funds is overseen by the investment committee at Schroders Capital with monitoring by the British Business Bank.

This information is not publicly available. Fees paid by the British Business Bank are the same as other investors and in line with market standards for the asset class.

The Industrial Strategy Green Paper is clear that the people that create and work in businesses will be central to the success of the growth-driving sectors and clusters. The government has established Skills England to better understand current and future skills requirements and is developing proposals to ensure the skills system supports employers to develop a pipeline of skilled workers to meet their needs, including in technology and cybersecurity. This will also complement existing skills efforts led by the Department for Science, Innovation and Technology, who oversee the current CyberFirst programme and the work of the UK Cyber Security Council.

This Government is committed to supporting the digital economy, removing barriers to inclusive economic growth, and ensuring that the UK continues to be one of the best places in the world for our great tech businesses to start, scale and stay. Programmes such as the SEIS/EIS schemes, R&D Tax Credits and various visa routes demonstrate the UK’s commitment to supporting tech companies in thriving in the UK. The Government has also announced the AI Opportunities Action Plan, and set up the Regulatory Innovation Office to reduce the burden for businesses hoping to bring new products and services to market.

A secure supply of critical minerals is vital for the UK's economic growth and security, industrial strategy, and clean energy transition. The government is developing a new Critical Minerals Strategy which will be more targeted towards the delivery of our industrial strategy and its eight core growth sectors. This new Critical Minerals Strategy will help secure our supply chains for the long term and drive forward the green industries of the future.

The Online Safety Act (OSA) applies to search services and online platforms that allow users to interact with each other or to post content online. Under the OSA’s child safety duties, from Summer 2025, relevant services will need to conduct risk assessments and take steps to protect child users.

Gambling policy is a matter for DCMS. In addition, the Online Advertising Taskforce supports the aims of DCMS to improve transparency and accountability in the online advertising supply chain. It will deliver work to address illegal advertising and minimise children being served advertising for products and services illegal to sell to them.

The UK operates one of the most transparent export licensing systems in the world. There is a long record of the UK granting licences for exports of controlled goods to Taiwan, on a case-by-case basis, where those applications are consistent with the Strategic Export Licensing Criteria.

The Department for Business and Trade provides advice and support to prospective exporters of controlled goods where there is a reasonable expectation of securing licenses, but the support will vary with an individual case’s circumstances.

The Government is taking action to support the UK’s world-leading technology industry, which will be at the heart of our new industrial strategy. The Budget will see Research and Development spending rising to a record level of over £20 billion, with DSIT’s R&D budget increasing by 8.5% in real terms. The new Regulatory Innovation Office will reduce red tape for our most innovative companies and speed up technology development. And we are unlocking further investment in industries of the future, including from institutional investors, through the British Growth Partnership, the National Wealth Fund and the Pensions Review.

Minister Clark demonstrated the Government’s continued support for the excellent work of the UK-Brazil Tech Hub during her visit to Brazil in early September. As part of the UK’s Digital Access Programme, the Hub continues to make a real difference for local Brazilian communities by improving digital inclusion, building local capacity, and supporting local digital entrepreneurship and innovation.

The Government is strengthening ties with international partners and building the UK’s reputation as a strong, reliable partner, while harnessing the power of science and technology for global benefit. Supporting partners to transform their economies in a sustainable and inclusive manner is critical to strengthen the entire science and technology ecosystem and achieve our technology ambitions.